Slow start for India's retail FX market

Volatility and the fact that many are still unaware that they can invest in the asset class has led to "insignificant" traded volumes by the country's retail participants, they add.

"The market is still in its nascent stages," said KR Muthuraman, manager in the FX division of India's ICICI Bank in Mumbai. Coupled with the volatility in the forex markets, he believes that it will take some time before participants are willing to get involved. "If you buy a stock and it goes against your view