The Reserve Bank of India adds five new currency pairs to its retail forex platform.

The Reserve Bank of India will add five new currency pairs to its retail foreign exchange platform, aiming to make it easier for individuals to access a wider range of currencies. "Retail forex will now introduce five additional currency pairs, enabling customers to meet their needs for the euro, pound sterling, Swiss franc, Canadian dollar, and UAE dirham," said Dimple Bhandia, Chief General Manager at the Reserve Bank of India, at the Global Fintech Fest in Mumbai on Wednesday. The web-based platform was launched in 2019 to help customers gain access to cheaper foreign exchange, as they had complained about the high fees charged by banks. The platform has gradually gained popularity, with an average daily trading volume of around 100 million US dollars. She stated that the Reserve Bank of India also plans to add the Japanese yen, Australian dollar, Singapore dollar, Hong Kong dollar, and New Zealand dollar.