RBI Reaffirms Commitment to FX Global Code for Forex Market Integrity

The Reserve Bank of India (RBI) announced on Wednesday that it has signed a renewed commitment to the FX Global Code. This code represents a series of global guidelines designed to ensure the integrity and effectiveness of the wholesale foreign exchange market.

First published in 2017, the code was collaboratively developed by central banks and market participants worldwide. The RBI, upon reviewing the code's content, acknowledges its principles as generally accepted good practices in the forex market, according to their 'Statement of Commitment.'

The Global Foreign Exchange Committee, responsible for maintaining and updating the code, reviewed it first in July 2021 and again in December 2024. The RBI has taken measures consistent with its activities in the FX market to adhere to these principles.