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Monetary policy: SPDs can offer all foreign exchange trade facilities

Decision comes after requests from foreign players; scope of existing licence was restrictive, say primary dealers

foreign exchange | RBI Policy | Forex

Bhaskar Dutta  |  Mumbai 

Trading on overseas online forex platforms illegal, punishable under FEMA
The move will expand commercial business opportunities for foreign primary dealers, which already have a strong network of overseas clients

The Reserve Bank of India’s (RBI’s) decision on Friday to enable standalone primary dealers (SPDs) to offer the full range of market-making facilities in the market was primarily driven by requests from foreign primary dealerships, sources told Business Standard.



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First Published: Fri, August 05 2022. 18:08 IST