The Reserve Bank said on Wednesday that it has signed a renewed statement of dedication to the FX Global Code.
The code is a series of worldwide principles of good practices in the FX market that has been developed to offer a common series of guidelines to promote the integrity and effective functioning of wholesalers in currency.
It was developed by a partnership between central banks and market participants from all over the world and was first published in 2017.
The Reserve Bank of India (RBI) has assessed the content of the FX Global Code and acknowledges that it represents a series of principles that are generally recognized as a good practice in the currency wholesaler, said ‘Declaration of dedication to the FX Global Code’.
“The bank confirms that it acts as a market participant as defined by the code and is dedicated to carry out his FX market activities in a way that is consistent with the principles of the code,” the RBI said.
To this end, the appropriate steps have taken, based on the size and complexity of its activities, and the nature of its involvement in the FX market, to tune its activities to the principles of the code, added the statement.
The Global Foreign Exchange Committee is entrusted with the promotion, maintenance and updating of the code.
The GFXC has assessed and updated the code twice, only in July 2021 and more recently in December 2024.
Published on September 24, 2025
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