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RBI panel moots changes in timings for foreign exchange market

RBI panel moots changes in timings for foreign exchange market_50.1

Internal committee of the RBI has suggested that the foreign exchange market could function from 9 am to 9 pm. At present, the currency market works from 9 am to 5 pm. The panel suggested call money market timings could be extended till 6 pm instead of the 5 pm now.

The extension of market timings is expected to provide benefits such as better pricing of post market hours information/data, improved onshore price discovery and a possible shift of offshore volumes to onshore.

Static/Current Takeaways Important For ESIC:

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

Source: The Hindu

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