Digital Solution
PMFME

What is FX-Retail?

FX-Retail is an electronic foreign exchange trading platform developed by the Clearing Corporation of India Limited (CCIL) under the guidance of the Reserve Bank of India (RBI). Launched in 2019, it aims to offer transparency and fair pricing for retail customers, including individuals and small to medium enterprises (MSMEs), when buying or selling foreign currency. Customers can book transactions at real-time FX-Retail rates. This service is available through web based portal and now via Bharat Connect bill payment system in select apps

Overview on FX Retail Platform on Bharat Connect for Resident Individual Customers

  • In October 2025, the Reserve Bank of India (RBI) launched a pilot programme linking the FX-Retail platform with the Bharat Connect bill payment system. This integration enables resident individual customers of participating banks to purchase US dollars for purposes such as remittances, and Foreign currency notes directly through their banking and payment apps. The initiative provides retail users with direct access to competitive, real-time FX-Retail rates and ensures a fully digital process—from registration to payment and fulfilment—enhancing transparency and eliminating hidden costs.
  • The programme covers the purchase of US dollars by individuals and sole proprietors via select banks.

Know More About FX-Retail

Key Details

    FX-Retail is available to specific customer categories and operates within defined transaction parameters, as outlined below:

  • Customer Segments: Individuals and Sole Proprietorships
  • Currency: United States Dollar (USD)
  • Tenor: Cash only (TOM, SPOT and Forward not offered)

    Transaction Limits:

    The transaction limits are as given below:

  • FCY Cash: USD 3,000
  • Forex Card (Issuance): USD 10,000
  • Forex Card (Reload): USD 10,000
  • Outward Remittance: USD 10,000

    Product Offering

    The following services are available under FX-Retail:

  • Outward Remittance - Br Channel and Online (NetBanking)
  • FCY Cash - Br Channel
Smart EMI

Key Benefits

    The main benefits for individual customers using FX-Retail through Bharat Connect include:

  • Convenience: Individuals can access forex services through their existing banking or payment apps integrated with the Bharat Connect  platform in select Apps.
  • Access to competitive rates: Real-time exchange rates sourced directly from the FX-Retail platform.
  • Enhanced transparency: The platform provides clear, upfront pricing and removes hidden charges.
  • Digital processes: The entire journey, from registration to transaction booking and payment, is fully digital.
  • Secure transactions: All transactions are conducted securely and are fully compliant with RBI guidelines under the Liberalised Remittance Scheme (LRS).
Key Image

How to Use FX Retail via Bharat Connect

    Make foreign exchange transactions via apps integrated with Bharat Connect in 3 easy steps:

    Step 1: Register on FX Retail Platform via Bharat Connect Apps

  • 1. Enter your PAN Details
  • 2. Select HDFC as your Relationship Bank
  • 3. Add your HDFC account details
  • 4. Enter the OTP provided and complete your registration

    Step 2: Book Forex Rate

  • 1. Input the USD Deal amount
  • 2. Select the transaction processing mode (Online/Branch)
  • 3. Make the payment via UPI and complete your Deal Booking

    Step 3: Submit your transaction

    Branch Process

  • 1. Visit the selected HDFC branch within bank hours, on or before the deal expiry date
  • 2. Submit the application form and supporting documents mentioning the FX Retail Trade Number

    • Online Process

  • 1. Log in to HDFC Bank NetBanking - Welcome to HDFC Bank NetBanking
  • 2. Add the Overseas Beneficary
  • 3. Place your Outward Remittance request via RemitNow mentioning the FX Retail Trade Number
Smart EMI

Frequently Asked Questions

FX-Retail is an electronic foreign exchange trading platform developed by CCIL under the guidance of the Reserve Bank of India (RBI). It provides transparent and competitive USD/INR pricing for retail users. It is available to individuals and sole proprietorships, with transactions currently supported only in USD and for Cash tenor.

Through Bharat Connect, individuals can access FX-Retail directly from their banking or payment apps, such as CRED and MobiKwik. The platform offers real-time competitive exchange rates, a fully digital process for booking and payment, and transparent pricing without hidden charges, enabling seamless purchase of USD for purposes like remittances, forex card loading and delivery of physical currency.

The current limits for individual users purchasing USD through FX-Retail are as follows:

  • FCY Cash: USD 3,000
  • Forex Card Issuance: USD 10,000
  • Forex Card Reload: USD 10,000
  • Outward Remittance: USD 10,000

Users can complete a forex transaction in just three steps:

  1. Register and access FX-Retail through a participating banking or payment app integrated with Bharat Connect.
  2. View live USD/INR exchange rates sourced directly from the FX-Retail platform.
  3. Book and pay digitally for the required USD transaction. The process is fully online, secure, and compliant with RBI’s LRS guidelines.