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Barclays Africa was granted immunity from prosecution in South Africa's foreign exchange rigging probe. The Commission had earlier found that more than a dozen local and foreign banks colluded to coordinate trading in the rand and US dollar using an online chat room called 'ZAR Domination'.
Penalties are set at up to 10% of the banks' South African revenues.
The immunity decision affects which banks face penalties but does not change rand supply or demand. The impact on feed ingredient prices is negligible.
reuters.comWendell RoelfFeb 21, 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.
