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Forex Turnover Doubled in 4 Years: RBI
The Business Guardian
|April 20, 2025
India’s foreign exchange (forex) market has seen strong growth in recent years, with average daily turnover nearly doubling from USD 32 billion in 2020 to USD 60 billion in 2024.
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This significant development was highlighted by Reserve Bank of India (RBI) Governor Sanjay Malhotra during his address at the 24th FIMMDA-PDAI Annual Conference in Bali on Friday.
Governor Malhotra noted that India’s financial markets have become more dynamic and resilient over the past few years.
He said “Over the past few years, we have witnessed significant developments that have transformed our markets into a dynamic and resilient force.....Almost doubling of average daily turnover in the forex market from 32 billion USD in 2020 to 60 billion USD in 2024”.
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