RBI revises timings for currency, debt markets; BSE, NSE timings unchanged
BusinessToday.In April 3, 2020
The apex bank Reserve Bank of India has reduced the timing of debt as well as currency market from April 7 to April 17, 2020. The timings for currency market has been revised from 10 am to 2 pm in light of the lockdown amid the coronavirus outbreak. Currently, the money market trades from 9 am to 5 pm.
Similarly, timing for trading in debt market has been revised to 11 am to 2 pm. RBI in its circular said that the unprecedented situation created by the COVID-19 outbreak has necessitated lockdowns, social distancing, restrictions on the movement of people and non-essential activities, work from home arrangements and business continuity plans.
However, timing for stock market remains unchanged. Currently, Indian equity market trades from 9:15 am to 3:30 pm on weekdays.
The resultant dislocations have adversely impacted the functioning of financial markets, RBI added.
"Staff and IT resources have been several affected, posing operational and logistic risks. The thinning out of activity impacting market liquidity and increasing volatility of financial prices," the central bank added in its circular.
The filing further said," In order to minimise these risks and to ensure that market participant maintains adequate checks and supervisory controls while optimising the resources and ensuring the safety of personnel, it has been decided to revise trading hours for various markets".