A report says India’s foreign exchange (forex) demand is increasingly driven by cities beyond the largest metros. It estimates that tier-2 cities account for 41% of forex demand, while tier-3 cities contribute an additional 12%, together making up 53%.
The outlets present the same breakdown and figures, pointing to a shift in where households and businesses are sourcing or using foreign currency. While one outlet emphasizes the combined share from tier-2 and tier-3 locations, the underlying message is consistent: non-metro regions represent a majority of reported forex demand.
The available coverage does not detail the methodology, timeframe, or specific components of forex demand (such as travel-related purchases, imports, or financial transactions). However, across sources, the reported percentages form the common core of the claim about geographic distribution.
