# South Africa grants Barclays Africa immunity in FX rigging probe

> 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.

- Date: 2017-02-21 · published 2017-02-21T12:00:00.000Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/72790-south-africa-grants-barclays-africa-immunity-in-fx-rigging-probe
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The immunity decision affects which banks face penalties but does not change rand supply or demand. The impact on feed ingredient prices is negligible.

## Read by commodity

- USDZAR: neutral

## Sources

- reuters.com: https://www.reuters.com/article/business/finance/south-africa-grants-barclays-africa-immunity-in-fx-rigging-probe-idUSKBN1600S3/

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