Where is EFF's evidence of currency manipulation by banks, Tito Mboweni asks

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- businesslive.co.za | 3 months ago

evidence that any bank has taken part in currency manipulation, finance minister Tito Mboweni says.

In a written reply to a question by the EFF in parliament, which was published on Monday, Mboweni said the Treasury does not have any evidence of any form of currency manipulation and is thus unable to assess the effect of any alleged manipulation of illicit financial flows.   “The Treasury has also checked that the SA Reserve Bank likewise does not have such evidence, and would like to invite the Honourable Member [EFF MP Hlengiwe Mkhaliphi] to provide any such evidence if she has any,” Mboweni said.

Mboweni said the Treasury was aware that the Competition Commission was investigating a case of price fixing and market allocation in the trading of foreign-currency pairs involving the rand, which it has referred to the Competition Tribunal for prosecution.

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