British multinational banking and financial services company Standard Chartered has pleaded guilty to manipulating currencies, including the rand, between 2007 and 2013. In this statement, The Competition Commission of South Africa says it has noted a consent agreement, which subsequently became a court order, between Standard Chartered Bank and New York State Department of Financial Service (DFS). The bank has reached a consent to pay U.S.$40 million (about R530 million) to the DFS, the statement reads.

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