Reserve Bank of India reduces timing of debt, currency market
Mumbai/UNI: In view of the lockdown following the outbreak of coronavirus, the Reserve Bank of India (RBI) has reduced the trading hours of debt as well as currency markets from April 7.
The revised market timings will be effective during April 7-17, 2020, the RBI said in a circular.
The market will open at 1000 hrs instead of the current 0900 hrs and closing timings, too have been revised to 1400 hrs for all segments.
The lockdown has adversely impacted the functioning of financial markets, the RBI has said.
The market timings have been revised in order to "minimise these risks" and to ensure that market participants maintain adequate checks and supervisory controls while optimising thin resources and ensuring the safety of personnel, it said.
As per the circular, the timing of the government securities (Central government securities, state development loans and treasury bills) market has been revised to 1000 hrs to 1400 hrs from the existing 0900 hrs to 1700 hrs.
Foreign currency (FCY)/Indian rupee (INR) trades including forex derivatives market as well as rupee interest rate derivatives market too have been changed to 1000 hrs to 1400 hrs from the existing 0900 hrs to 1700 hrs, it added.
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