Trading hours for Federal Reserve Bank of India-regulated markets are going to be restored during a phased manner, the financial institution said on Monday. the event is in line with easing of restrictions imposed in late March to curb the COVID-19 pandemic, which has put the economy on target to register its worst annual contraction in additional than four decades.
With effect from November 9, the trading hours for the RBI-regulated markets – currency and bonds – are going to be extended from the present timings of 10 am to 2 pm.
The RBI had trimmed the trading hours in April thanks to coronavirus outbreak, citing “unprecedented situation created by the COVID-19 outbreak” and therefore the “resultant dislocations” caused thanks to social distancing and other prescribed norms causing volatility within the markets.
Currently, the RBI regulates exchange , corporate bond/commercial paper, agency security , deposit certificate and currency also as commodity derivatives instruments.
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