Cross-border trade in local currencies reduces transaction costs: RBI deputy governor

Local currencies will increasingly drive cross-border trade and payments, reducing costs and improving efficiency. Technology will be leveraged across the entire customer transaction chain for digital origination and reporting. India's foreign exchange reserves have significantly grown, and domestic forex market turnover has doubled recently. The market faces challenges with skewed participation and unauthorized online trading platforms operating outside regulations.

Raccontata daeconomictimes.indiatimes.comthehindubusinessline.com