South African Federation of Trade Unions Backs Competition Commission’s Constitutional Court Appeal on Alleged Currency Manipulation

The South African Federation of Trade Unions has expressed support for the Competition Commission’s appeal to the Constitutional Court regarding the alleged manipulation of the rand/dollar exchange rate from 2007 to 2013. Despite the Competition Appeals Court dismissing the case earlier due to insufficient evidence of a coordinated conspiracy, the commission’s appeal targets 13 banks, including ten international ones. SAFTU spokesperson Trevor Shaku emphasizes the importance of holding all implicated banks accountable for their actions.