Forex retail trading platform ready for roll-out on August 5, says RBI

Fees charged by banks, if any, should be spelt out on the FX-Retail platform

The Reserve Bank of India (RBI) on Thursday said the currency trading platform for retail trading is ready for roll-out by the Clearing Corporation of India (CCIL) on August 5 to enable transparent and fair pricing for retail users, such as individuals and micro, small and medium enterprises.
 
According to sources, the customer orders would be bunched up to make marketable lots of $5 million and above, which can be directly traded by the CCIL platform in the interbank market, which will help the customer avail of superfine interbank rates. This will significantly cut down on exorbitant exchange rates