RBI: Foreign exchange, bond, money markets to remain shut on January 22

MUMBAI: India’s central bank said there will no trading in foreign exchange, bond and money markets on January 22, as the Maharashtra state government has declared a public holiday, while the settlement of outstanding transactions will be postponed to January 23.
The state government has declared a public holiday on Monday under Section 25 of the Negotiable Instruments Act, 1881, the Reserve Bank of India said.
The 3-day variable rate repo auction announced earlier in the day stands canceled and a two-day VRR auction will now be conducted on January 23, the central bank added.
“An extra issue each of Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) with reversal on January 23, 2024 (Tuesday) is being made available,” the RBI said.
Earlier in the day, the RBI said trading in the FX, bond, interest rate and currency derivative, call money, commercial paper and certificate of deposit markets will be conducted from 2:30 pm IST to 5:00 pm IST on Monday.
The central government has declared a half-day closing till 2:30 pm IST at all central government offices, central institutions and central industrial establishments on Jan. 22, on the occasion of the inauguration for the Ram Temple.
The markets will resume their normal timings from January 23.

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