Money market returns to pre-COVID timings from today: Check new working hours of G-Sec, Forex markets

Markets regulated by the Reserve Bank of India (RBI) are going to be rescheduled to their pre-pandemic timing from today with the opening restored to 9am.

''From April 18, 2022, trading at RBI-regulated markets like Foreign Currency (FCY)/Indian Rupee (INR) trades, including Forex Derivatives, Rupee Interest Rate Derivatives, Repo in Corporate Bonds, etc. will begin at its pre-COVID timings i.e. at morning 9am instead of 10am,'' said the RBI in a statement.

Also Read: Watchdogs mull syncing trading time of all markets: Report

The central bank in its first Monetary Policy Committee (MPC) meeting for the financial year 2022-23 announced that the working hours of call money, commercial papers, government securities markets, and foreign currency- including forex derivatives will be changed.

According to the RBI, the existing and new timings are as follows:

Call, notice and term money: The existing timing for this market is from 10am to 3:30pm. The timing has been restored to the pre-pandemic timing of 9am-3:30pm, effective April 18.

Market repo in government securities: The timing for the market has been restored from the existing 10am-2:30pm to the pre-COVID timing of 9am-2:30pm, extending an hour by opening early.

Tri-party repo in government securities: From the existing 10am to 3pm, the timing of the market is being changed to pre-pandemic timing of 9am to 3pm.

Commercial paper and certificates of deposit: From the existing 10am to 3:30pm, the opening timing of the market has been advanced to 9am, while the closing timing remains the same at 3:30pm.

Repo in corporate bonds: The new market timing from April 18 is 9am to 3:30pm, from the existing 10am-3:30pm.

Government Securities (Central Government Securities, State Development Loans, and Treasury Bills): The timing has been changed to 9am to 3:30pm effective Monday, from the existing 10am to 3:30pm.

Foreign Currency-Indian Rupee Trades including Forex Derivatives: The new timing for this market is 9am-3:30pm,  against the existing 10am to 3:30pm.

Rupee Interest Rate Derivatives: The new timing for the market is being restored to pre-pandemic 9am to 3:30pm, from the existing 10am-3:30pm. This market consists of derivatives other than those traded on recognised stock exchanges.

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Additionally, the RBI and market regulator Securities and Exchange Board of India (Sebi) are also exploring the possibility to synchronise trading time for all markets, including stocks, bonds, currency and commodities, to allow smooth operations for investors, according to earlier reports.