MUMBAI: A RBI working group proposed a calibrated extension of forex market trading hours between 9 a.m. and 9 p.m. as it would assist to gauge demand and prospective advantages.
In August 2018, the Reserve Bank of India (RBI) decided to set up an internal group to review the timing of the multiple markets it controls and the related infrastructure for payment and settlement.
The RBI controls money markets, government securities (G-Sec) market, foreign exchange (Forex) market, and interest rate, currency and credit derivatives markets.
The Indian forex market is predominantly a wholesale market, with banks, forex brokers and corporate customers dominating it. Banks prize off-market customers. OTC, as well as exchanges, take place in forex trading and associated derivatives.
Post a Comment