NEW DELHI: The Reserve Bank of India (RBI) on Monday decided to restore market trading hours for various markets regulated by it, in a phased manner from November 9.
Trading hours for debt as well as currency markets have been extended by 1.5 hours. Now, the markets will close at 3.30 pm instead of the earlier closing time of 2 pm. In case of ‘market repo in government securities’ the timing from next week will be 10 am to 2.30 pm, and ‘tri-party repo in government securities’ 10 am to 3 pm.
The central bank had reduced trading hours of debt as well as currency markets from April 7 in view of the nationwide lockdown announced by Prime Minister Narendra Modi to curb the spread of the deadly coronavirus. The market opening time was revised to 10 am instead of 9 am for all segments. Whereas, closing timing was revised to 2 pm.
“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,” RBI said in an official statement.
In addition, trading hours for commercial paper and certificates of deposit, repo in corporate bonds, government securities, foreign currency (FCY)/Indian rupee (INR) trades including forex derivatives, rupee interest rate derivatives, and call/notice/term money have been extended till 3.30 pm.
(With agency inputs)