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The Reserve Bank of India (RBI) on Thursday proposed retail customers’ access to the currency trading platform, and that prices should be in line with the inter-bank market through an in-built mechanism on the platform.
In a discussion paper on its website, the central bank said the existing FX-CLEAR platform should be extended to the retail customers of through an internet-based application.
However, the retail market will be separate from the inter-bank market. While banks can access both the institutional and retail markets, retail customers would be limited to the retail market segment of the platform.
