South Africa probes global banks over forex fixing
South Africa probes global banks
Johannesburg - Arab Today
South Africa's competition watchdog said Tuesday it had opened an investigation into foreign currency price fixing by several international banks, including Citigroup, Barclays, JP Morgan Chase and Standard Chartered.
The country's Competition Commission said the institutions "have allegedly been directly or indirectly fixing prices in relation to bids, offers and bid-offer spreads in respect of spot, futures and forwards currency trades."
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