South Africa cenbank will scrutinise big moves in forex market: deputy governor - CNBC Africa

South Africa cenbank will scrutinise big moves in forex market: deputy governor

Southern Africa

by Reuters 0

Big moves on the foreign exchange market will now receive much more scrutiny from South Africa's central bank. Photo: Wikimedia

Big moves on the foreign exchange market will now receive much more scrutiny from South Africa's central bank, deputy Governor Daniel Mminele said on Monday.

The bank said a probe into the foreign exchange market had found no evidence of misconduct by major banks, but said it would step up surveillance after finding instances of confidential client information being shared amongst dealers.

"At any point in time if there are big movements in the market or there are issues that we believe may warrant investigation, we reserve the right to give the issue much more scrutiny," Mminele told reporters after the bank released its report.

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