The Reserve Bank of India is expanding its FX-Retail platform by adding five new currency pairs. This move allows individual users and small businesses to access global currencies at interbank rates, moving beyond the original USD/INR trading setup.
Launched on August 5, 2019, the platform is managed by Clearcorp Dealing Systems (India) Ltd. It functions as an anonymous electronic venue where users can execute individual trades up to $5 million with no daily limits. Transactions up to $50 000 incur no fees.
Users of the platform have historically saved between 1.50 and 2 rupees per US dollar compared to standard bank rates. The central bank has been monitoring banks quarterly throughout 2026 to ensure competitive pricing and increased retail client onboarding.
In October 2025, the regulator conducted a pilot project integrating the platform with the Bharat Connect payment system, involving banks such as Axis, SBI, and ICICI. Additionally, Financial Benchmarks India Ltd is preparing to add more currencies to its benchmarks.
