Foreign Exchange Dealers Association of India (FEDAI)

Demystifying the Foreign Exchange Dealers Association of India (FEDAI)

Delve into the realm of the Foreign Exchange Dealers Association of India (FEDAI) and unravel its significance in the Indian forex market. From its inception to its role as a self-regulating organization, explore the functions and impact of FEDAI on the banking sector.

Unraveling the Essence of FEDAI

Gain insights into the formation and regulatory framework of FEDAI, an association comprising commercial banks entrusted with managing foreign exchange transactions in India. Discover how FEDAI shapes the rules governing interbank forex dealings and supports member banks in navigating the complex forex landscape.

Exploring FEDAI's Core Functions

Dive deeper into FEDAI's multifaceted role, from advising and supporting member banks to representing their interests on regulatory platforms like the Reserve Bank of India. Learn how FEDAI facilitates the dissemination of vital interest rate information and fosters the accreditation of forex brokers to uphold industry standards.

FEDAI as a Self-Regulating Organization

Understand the significance of FEDAI as a self-regulating organization (SRO) and its impact on fostering ethical practices and market stability. Explore parallels with other SROs globally and grasp the collaborative efforts of FEDAI with regulatory bodies like the RBI and FIMMDA to enhance market resilience.

Setting Forex Benchmarks in India

Explore FEDAI's collaboration with industry stakeholders to establish benchmarks for Indian rupee interest rates and foreign exchange, enhancing market transparency and efficiency. Understand the role of Financial Benchmark India Private Ltd (FBIL) in publishing key benchmark rates and volatility indices for the Indian forex market.