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| 1. |
What is the minimum tradeable amount in the foreign exchange trading platform for retail participants? |
| Answer» The minimum tradeable amount is $1000 and they are issued in the multiples of $500 thereof. At present, the facility will be available only for dollars, but later more currencies will be introduced. Once the trade is done, the ticket generated will reflect the interbank rate, mark-up, and the net rate. Trades can be done for same-day delivery (cash), next-day delivery, or spot delivery (T+B), and interbank rates will reflect accordingly. RBI also decided to widen the gambit of Small Finance Banks (SFBs) to get more customers in order to extend the banking facilities for all. | |