Kganyago throws dust on the authorities on rand manipulation

Tawanda Karombo

Public trust in SA’s banking sector is not as deep as it should be, he said PUBLIC trust in South Africa’s banking sector was not as deep as it should be, said South African Reserve Bank (SARB) Governor Lesetja Kganyago, giving a keynote speech at a conference of the Financial Sector Conduct Authority (FSCA) yesterday. Kganyago yesterday raised dust over the issue of rand manipulation after appearing to take a step away from the Competition Commission’s work to get to the bottom of the saga through an appeal at the Constitutional Court. He said: “It was remarkable, with the allegations last year about banks manipulating the exchange rate of the rand, how ready people were to believe that there was in fact a giant conspiracy to rig the rand, and…

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Cape Times (Digital) - 1 Issue, 2024-03-14

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