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South Africa's Competition Commission fined the local arm of Citigroup 69.5 million rand (about $5.3 million) for its part in a foreign currency trading cartel. The regulator said traders at more than a dozen banks coordinated trading in the rand and dollar, including through fictitious bids and offers.
The fine is a penalty for past currency manipulation and has little direct bearing on the rand's level or on feed ingredient prices. It may affect how banks handle rand trading going forward.
reuters.comFeb 20, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
