JOHANNESBURG Feb 16 South African banks accused
of rigging rand currency dealing should be punished if a report
by the competition watchdog is true, the National Treasury said
"We view this matter in a very serious light and welcome any
steps taken against wrong-doing by any financial institutions,"
the treasury said in a statement.
The Competition Commission said on Wednesday it had found
the banks, including U.S., European, Japanese and Australian
lenders, had colluded to coordinate their trading activities
when dealing in the South African and U.S. currencies.
(Reporting by Mfuneko Toyana)