RBI renews statement of commitment to FX Global Code

mumbai: The Reserve Bank on Wednesday said it has signed a renewed statement of commitment to the FX Global Code.

The code is a set of global principles of good practice in the FX market developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed by a partnership between central banks and market participants from around the globe and was first published in 2017.

The RBI has reviewed the content of the FX Global Code and acknowledges that it represents a set of principles generally recognised as good practice in the wholesale foreign exchange market, said ‘Statement of Commitment to the FX Global Code’.