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FIXING FOR PROFITS

3rd March 2017

By: Darlene Creamer

     

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The mechanics of how currency traders manipulated the buying and selling process to maximise profits and avoid losses are complicated. It is also far from clear whether the collusive actions of these South African, American and British traders had any major influence on the level at which the rand traded against other currencies. What is not complicated, however, is the fact that they cheated and that there must be consequences for the institutions that failed to ensure their ethical conduct.

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