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RBI extends trading hours; money market to close at 5pm

The Reserve Bank of India (RBI) on Wednesday prolonged buying and selling hours for numerous markets regulated by it.

“It has now been determined to revive market hours in respect of name/discover/time period cash, business paper, certificates of deposit and repo in company bond segments of the cash market in addition to for rupee rate of interest derivatives,” RBI mentioned in a launch.

The central financial institution modified the timings in April 2020 in view of the operational dislocations and elevated ranges of well being dangers posed by COVID-19.

Below the brand new timings, which come into impact from December 12, the decision/discover/time period cash market will shut at 5 pm, the marketplace for Business paper and Certificates of Deposit will shut at 5 pm, Repo in Company Bonds ends at 5 pm and Rupee Curiosity Charge Derivatives will finish at 5 pm.

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