ATM asks Ramaphosa for rand manipulation inquiry
The African Transformation Movement says it's disappointed that Parliament has turned down its request for an urgent debate on the manipulation of the Rand.
At least 28 commercial banks are implicated in price fixing involving the South African currency.
Last week, the Competition Commission said British bank, Standard Chartered had agreed a settlement for its involvement.
The ATM says this collusion has had a catastrophic effect on South Africans.
In response to the party's request for a debate, Deputy Speaker Lechesa Tsenoli said it was premature to debate the issue as there are ongoing legal proceedings.
ATM has since written to President Cyril Ramaphosa asking him to set up a commission of inquiry into the currency manipulation.
"The Competition Commission scope of the report is only up to 2013. We do not know that the very same injustices is taking place beyond 2013 up until now. We need to be able to explore each and everything that is contained in that report," says the party's Mxolisi Makhubu.
"We hope that the president is going to put the people of South Africa first and actually grant us this commission and we need to be able to protect our people. The South African Reserve Bank how did they not pick it up that this is happening?"
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