Reserve Bank working group recommends extension of market hours

An internal working group of the Reserve Bank of India (RBI) on comprehensive review of market timings has suggested calibrated extension of currency market hours, from 9 am to 9 pm for both over-the counter and exchange traded.

Presently, the markets close at 5 pm.

“While 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 possible shift of offshore volumes to onshore, there is a view that it may entail higher costs to stakeholders,” the draft report said. 

However, the RBI is in the process of reviewing and