Story thread · 2 reports / 2 sources

RBI to expand retail forex access

economictimes.indiatimes.com · 5dShare

The Reserve Bank of India will add five currency pairs to its retail foreign-exchange platform, expanding access for individuals seeking to transact in major global currencies and broadening the range of forex services available outside traditional bank channels.“The FX Retail is now set to introduce five additional currency pairs, enabling the customers to meet their needs in euro, British pound, Swiss franc, the Canadian dollar, and the Emirati dirham,” RBI Chief General Manager Dimple Bhandia said at the Global Fintech Fest in Mumbai on Wednesday.Also read: RBI uses currency swaps to cut $115 billion cash surplusThe central bank also plans to add the Japanese yen, Australian dollar, Singapore dollar, Hong Kong dollar and New Zealand dollar to the platform, Bhandia said.The expansion would take the platform beyond its existing currency offering and give retail customers access to a broader set of currencies for their foreign-exchange requirements.FX-Retail gains tractionThe RBI launc

First report: RBI launches multicurrency forex services on Bharat Connect; adds euro, pound, dirham, Swiss franc, CAD — businesstoday.in, 5d