UK-based banking multinational Standard Chartered Bank (SCB) has agreed to settle with the Competition Commission for R42.7 million associated with the rand/dollar manipulation scandal that was exposed in 2017. Standard Chartered was one of the 28 banks who were prosecuted by the commission for manipulating the rand/dollar currency pair between 2003 and 2013. The bank has admitted liability in the case. According to the commission, Standard Charterd participated in the manipulation of USD/ZAR currency pair by fixing bids; offers; bid-offer spreads; the spot exchange rate; and the exchange rate at the FIX. Director and Currency Risk Strategist at TreasuryOne Andre Cilliers joins Lerato Mbele for the conversation.

<p>UK-based banking multinational Standard Chartered Bank (SCB) has agreed to settle with the Competition Commission for R42.7 million associated with the rand/dollar manipulation scandal that was exposed in 2017. Standard Chartered was one of the 28 banks who were prosecuted by the commission for manipulating the rand/dollar currency pair between 2003 and 2013. The bank has admitted liability in the case. According to the commission, Standard Charterd participated in the manipulation of USD/ZAR currency pair by fixing bids; offers; bid-offer spreads; the spot exchange rate; and the exchange rate at the FIX. Director and Currency Risk Strategist at TreasuryOne Andre Cilliers joins Lerato Mbele for the conversation.</p>

POWER Talk is a mid-morning talk show that delves deeper into the news of the day, along with larger societal themes, inviting listeners to help unpack issues on the day’s current affairs agenda and topics close to their hearts. The host also interviews the biggest newsmakers and experts in South Africa, helping listeners make sense of their world.

<p>POWER Talk is a mid-morning talk show that delves deeper into the news of the day, along with larger societal themes, inviting listeners to help unpack issues on the day&rsquo;s current affairs agenda and topics close to their hearts. The host also interviews the biggest newsmakers and experts in South Africa, helping listeners make sense of their world.</p>