The idea that the rand was trashed for profit; that’s not true in this case.
— Stuart Theobald, Intellidex
The Competition Commission is accusing 17 banks of manipulating the rand.
It says it has evidence that they faked bids to distort supply and demand.
What does that actually mean?
What did the banks actually do to fix currency trades?
The Money Show’s Bruce Whitfield interviewed Stuart Theobald, Financial Analyst and MD at Intellidex.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
The Competition Commission said they even met face to face to manipulate the market.
— Stuart Theobald, Intellidex
Rand/dollar trade amounts to $90 billion every single day.
— Stuart Theobald, Intellidex
The Competition Commission did not say that the value of the rand was manipulated. That’s simply not possible.
— Stuart Theobald, Intellidex
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