Categories: Banking

RBI allows to offer 24×7 rupee trading via select banks

The Reserve Bank of India (RBI) has enabled select banks in India to offer round-the-clock (24×7) trading in the Indian rupee to allow Indians to safeguard their foreign exchange (Forex) risks at any time. The select banks in India offered Indian customers foreign exchange rates only in inter-bank market hours from 9 am – 5 pm. This decision will also make the offshore currency markets in countries like Dubai & Singapore less attractive for Indian investors.

Important takeaways for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

 

Find More Banking News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

Recent Posts

East Bengal Win Indian Super League Title for First Time, Ending 22-Year Wait

The East Bengal have finally ended one of the Indian Football's lonest title after they…

1 hour ago

Cheetahs Roar Back in India After 70 Years, Mission Hits Major Milestone

India's ambitious restoration mission Project Cheetah is showing the strong momentum as the India's cheetah…

2 hours ago

Delhi’s Vaman Van Initiative: Key Details of the New Ecological Education Project

Delhi Forest Department set to develop the 'Vaman Van' which is an interactive biodiversity zone…

2 hours ago

India Postpones Fourth India-Africa Forum Summit Amid Ebola Health Emergency in Africa

India has postponed the Fourth India-Africa Forum Summit which was schedule to be held in…

2 hours ago

Rajnath Singh Unveils Indian War Memorial in South Korea, Honouring Korean War Heroes

India and South Korea have strengthened the strategic relationship as Defense Minister of India Rajnath…

3 hours ago

Who Is Dr Soumya Swaminathan? Former WHO Scientist Elected Fellow of the Royal Society

Dr. Soumya Swaminathan who was former WHO chief scientist and ex-Director General of ICMR has…

3 hours ago