Forex Market: Rupee will not be available in exchange for dollar on 18 September, foreign exchange market will remain closed
Foreign exchange Market: There is a crucial information for many who get rupees in alternate for the US forex greenback and that’s that on Wednesday, September 18, 2024, rupees won’t be accessible in alternate for {dollars} and {dollars} in alternate for rupees. The rationale for that is that the international alternate market will probably be closed on Wednesday. Due to this fact, there will probably be no transaction of any variety in authorities securities, international alternate and forex markets. The Reserve Financial institution of India (RBI) has given this essential info by social media.
Maharashtra authorities modified the vacation on 16 September
RBI has posted on social media platform X (outdated Twitter) and knowledgeable that there will probably be no transactions and settlements in authorities securities, international alternate and forex markets on September 18, 2024. The press launch issued by the central financial institution stated that the Maharashtra authorities has declared a public vacation on September 18, 2024. The general public vacation on September 16, 2024 already declared by the Maharashtra authorities has been canceled. Due to this fact, there will probably be no transactions and settlements in authorities securities, international alternate, forex markets and rupee rate of interest derivatives on September 18, 2024. Settlement of all excellent transactions to be held on September 18, 2024 will probably be postponed to the subsequent working day i.e. September 19, 2024.
Change in public vacation below the Negotiable Devices Act – No transactions and settlements in authorities securities, international alternate and cash markets on September 18, 2024: Reserve Financial institution of India (RBI) pic.twitter.com/mfxx7E7mM4
— ANI (@ANI) September 14, 2024 Overseas alternate market will stay open on September 16
RBI has additional stated that the federal government securities market, international alternate market, cash market and rupee rate of interest derivatives market will now stay operational on September 16, 2024. Settlement of secondary market transactions in authorities securities, international alternate market, cash market and rupee rate of interest derivatives market that are scheduled to happen on September 17, 2024, will happen on the identical day i.e. September 17, 2024.
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Authorities securities public sale will probably be held on September 17
RBI stated that the public sale of Authorities of India dated securities scheduled for Friday, September 13, 2024 will probably be held on September 17, 2024 as introduced earlier. The public sale of State Authorities securities scheduled for September 17, 2024 will now be settled on September 19, 2024 (Thursday) as an alternative of September 18, 2024 (Wednesday). Standing Deposit Facility (SDF) and Marginal Standing Facility (MSF) below Liquidity Adjustment Facility (LAF) availed on September 13, 2024 (Friday) and to be withdrawn on September 17, 2024 (Tuesday) will now be withdrawn on September 16, 2024 (Monday). Additional, the SDF and MSF window below LAF will stay accessible as common on all days as per the prevailing pointers.
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