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RBI increases trading hours for rupee, bond markets

Trading duration for foreign currency and rupee market including forexderivatives, government securities, commercial paper and certificates ofdeposit has been increased by 1.5 hours

twitter-logoBusinessToday.In | November 2, 2020 | Updated 18:36 IST
RBI increases trading hours for rupee, bond markets
Now, the rupee market will close at 3:30 pm as per Indian Standard Time instead of earlier closing time of 2 pm, after opening at 10 am

The Reserve Bank of India on Monday has increased trading hours for the rupee and bond markets with effect from November 9, 2020. The move is part of easing COVID-19 lockdown restrictions by the Central Bank.

Trading duration for foreign currency and rupee market including forex derivatives, government securities, commercial paper and certificates of deposit has been increased by 1.5 hours.

Now, the rupee market will close at 3:30 pm as per Indian Standard Time instead of earlier closing time of 2 pm, after opening at 10 am.

Rupee slumps 30 paise to 74.40 against US dollar in early trade

"With the graded roll-back of the lockdown and easing of restrictions on movement of people and functioning of offices, it has been decided to restore trading hours for regulated markets in a phased manner," the Reserve Bank of India said in its statement.

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