RBI includes spot deals to expand forex transactions reporting requirements

Quick Summary:

The Reserve Bank on Friday said it has decided to expand the reporting requirement of forex transactions and include foreign exchange spot deals to ensure completeness of transaction data in the trade repository (TR) of the Clearing Corporation of India.

Currently, authorised dealers report all over-the-counter (OTC) foreign exchange derivative contracts and foreign currency interest rate derivative contracts undertaken by them directly or through their overseas entities to the TR of Clearing Corporation of India Limited (CCIL).

"To ensure completeness of transaction data in TR for all foreign exchange instruments, it has been decided to expand the reporting requirement to include foreign exchange spot (including value cash and value TOM) deals in a phased manner," the Reserve Bank of India (RBI) said in a circular.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: India

Topics: Over-the-counter Bank foreign exchange Clearing Corporation of India Limited RBI Forex

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 19:38:54 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 301 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23470733

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 275 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions