India plans to expand its FX-Retail platform, integrating it with Bharat Connect to improve foreign exchange transparency.

The Reserve Bank of India plans to expand the FX-Retail platform by linking it with Bharat Connect, allowing users to transact through banking and non-bank payment apps. This initiative aims to enhance transparency and fairness in foreign exchange pricing, initially focusing on individuals and small businesses purchasing US dollars. The FX-Retail platform, launched in 2019, already provides anonymous trading and real-time rates.

3 months ago
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