# South Africa's Competition Commission prosecutes banks for collusion

> South Africa's Competition Commission found that banks had a general agreement from at least 2007 to collude on prices for bids, offers and bid-offer spreads in spot trades of the US dollar/rand currency pair. The finding is the basis for prosecution of the banks involved.

- Date: 2017-02-15 · published 2017-02-15T12:00:00.000Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/72785-south-africa-s-competition-commission-prosecutes-banks-for-collusion
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

This regulatory action concerns how the rand is priced and does not change feed supply or demand directly. Any effect on the currency would come through changes in market structure, which is unlikely to move feed prices.

## Read by commodity

- USDZAR: neutral

## Sources

- reuters.com: https://www.reuters.com/article/markets/us/south-africas-competition-commission-prosecutes-banks-for-collusion-idUSFWN1G00LW/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.