INDIA'S FOREIGN EXCHANGE MARKETS: GETTING READY FOR THE NEXT DECADE1 - KEYNOTE ADDRESS DELIVERED BY SHRI ROHIT JAIN, DEPUTY GOVERNOR ON THE ANNUAL DAY OF THE FOREIGN EXCHANGE DEALERS' ASSOCIATION OF INDIA (FEDAI) ON AUGUST 14, 2026

MUMBAI, India, Aug. 20 -- Reserve Bank of India issued the following speech:

Shri Srinivasa Panigrahi, Chairman, FEDAI; Shri Shamsher Singh, Deputy Managing Director, SBI, Shri Vivek Wahi, Chief Executive, FEDAI; distinguished members of the banking and financial community; ladies and gentlemen. Good evening.

1. Thank you for inviting me to FEDAI's Annual Day. My congratulations to FEDAI on this occasion. FEDAI was set up way back in 1958, when India's foreign exchange market was, in substance, an administrative arrangement around a rationed resource. It was once all about how to conserve foreign exchange; now it is more about how well we serve those who use it.

2. The topic of my talk is India's Foreign Exchange Markets: Getting ready f...