RBI expands scope of Standalone Primary Dealers to offer all foreign exchange market making facilities
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- Last Updated on 12 October, 2022
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Circular No. RBI/2022-23/126 DOR.FIN.REC.No.72/03.10.117/2022-23, dated: 11.10.2022
With a view to strengthen the role of standalone primary dealers (SPDs) as market makers, on a par with banks operating primary dealer business, the RBI has decided to enable SPDs to offer all foreign exchange market-making facilities as currently permitted to Category-I Authorised Dealers, subject to prudential guidelines. This measure will provide forex customers with a broader set of market makers to manage their foreign currency risk. Further, this will add to breadth to the forex market in India.
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