GJEPC promotes FX-Retail to jewellers
The Gem and Jewellery Export Promotion Council is promoting the FX-Retail Platform to its Forex Trading members with the aim of bringing more jewellery businesses onto the platform.
The GJEPC recently held a webinar titled ‘FX-Retail: A New Forex Trading Platform’ which was attended by over 80 participants, the traders’ body announced on its website. The aim of the webinar was to promote the benefits of using the FX-Retail Platform for jewellery businesses.
The FX-Retail Platform was first launched by Clearing Corporation of India Limited’s fully-owned subsidiary ClearCorp Dealing Systems on August 5, 2019. The initiative is part of the Reserve Bank of India’s plan to increase transparency around pricing and ensure that pricing is fair for customers, corporates, importers, and exporters in the Foreign Exchange market.
The GJEPC’s webinar was attended by numerous executives of Clearing Corporation of India Limited including senior vice president Kamal Singhania among others. The executives briefed the attendees on the FX-Retail Platform, its benefits, and how businesses can register on the online portal.
Benefits of the FX-Retail Platform mentioned at the webinar include transparency with pricing, substantial savings on buying and selling US dollars, and online dealing with access to current inter-bank US dollar and Indian Rupee rates. This is designed to enable a shift from phone-based trading to electronic trading.
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