RBI Revises Trading Time: The revised timings will be effective from November 9, 2020.
The Reserve Bank of India has increased trading hours for the rupee and bond markets following easing COVID-19 lockdown restrictions. The trading hours 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.
The revised timings will be effective from November 9, 2020.
"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.
After the lockdown in March, the trading hours for money market had reduced due to COVID-19 crisis and restrictions on transport.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.