Rand manipulation | Mbeki calls for tough action against culprits

CAPE TOWN - Former President Thabo Mbeki has weighed in on the manipulation of the rand by various banks.

READ: Rand manipulation | Call to overhaul banking regulation system

Mbeki says banks complicit in the scandal should be brought to book.

Almost 30 commercial banks are under fire for alleged price fixing involving the Rand.

British multinational bank Standard Chartered -- was recently fined almost R42 million by The Competition Commission after it admitted to currency manipulation

Mbeki was speaking at the Cape Town Conversation, which wrapped up on Sunday.