RBI extends Trading hours for Money market, Effective from November 9
As Unlock 6.0 is currently underway amid lockdown relaxations, the central bank has increased trading hours for the currency and bond markets. Consequently, trading hours for forex and bond markets including G-securities, commercial paper, CDs, and forex derivatives have been increased by 1.5 hours to 3:30 pm as per IST.
Owing to covid related challenges, the RBI after nationwide lockdown imposition reduced trading hours for the currency and bond market which currently operate between 10 am to 2 pm. The new timings will become effective on November 9, 2020. "With the graded roll-back of the lockdown and easing of restrictions on the 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. The trading hours for various markets regulated by the Reserve Bank were amended effective from April 7, 2020, in view of the operational dislocations and elevated levels of health risks posed by COVID-19, the RBI said