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To enhance transparency in the foreig exchange market, in January 2024, Authorised Dealers were mandated to provide the mid-market mark / bid and ask price of the foreign exchange derivative contract / foreign currency interest rate derivative contract before entering into the contract with a retail user and include the same in the deal confirmation / term sheet. It is proposed to mandate Authorised Dealers to provide the details of transaction cost (remittance fees, foreign exchange rate, currency conversion charges etc.), associated with foreign exchange cash, foreign exchange tom and foreign exchange
spot contracts offered to retail users. The Reserve Bank of India placed on its website the Draft Circular on Disclosure of Transaction Cost for Foreign Exchange Transactions. Comments on the draft circular are invited from banks, market participants and other interested parties by January 09, 2026.