RBI trims money market timings, including that of foreign currency
In an unprecedented move, the RBI has cut down the timings of the money market. The Reserve Bank of India took a crucial decision due to covid-19 cases, which are on the rise. It said that the new timings would take into effect from April 7, 2020 (Tuesday), and continue up to April 17, 2020 (Friday). The schedules of the money markets will be now from 10 am to 2 pm. Government securities, foreign currency, and forex derivatives will also function up to 2 pm, RBI has clarified.