South Africa: Banks and National Treasury Challenge Claims of Currency Manipulation and Market Collusion

November 28, 2023
[Daily Maverick] National Treasury has argued that the alleged actions of banks to manipulate the dollar-rand exchange pair from 2007 to 2013 were not the main cause of the local currency substantially losing its value over the past decade, or the economy being in the doldrums. Rather, problems such as Eskom blackouts and the logistics crisis are to blame.

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