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[LISTEN] How does manipulation of the currency affect consumers?

| The Competition Commission's Makgale Mohlala explains how the price-fixing scandal has a far-reaching impact on consumers.

JOHANNESBURG - The case involving 17 banks accused of price fixing in international markets involving the value of the rand to the dollar has caused concern locally as three South African banks have been implicated.

These banks allegedly helped each other to reach the desired prices by coordinating their trading times and created fake bids and offers to distort demand and supply.

In the audio clip above, 702's Sizwe Dhlomo spoke to Makgale Mohlala, Manager of Cartels at the Competition Commission, who explains the far-reaching impact on consumers.

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