Forex Markets Shut On Wednesday For Gudi Padwa Holiday

On Tuesday, the rupee had appreciated by 26 paise to end at 75.94 against the US dollar, gaining some ground after sinking to a lifetime closing low of 76.20 the previous day.

Forex Markets Shut On Wednesday For Gudi Padwa Holiday

Gudi Padwa 2020 Holiday: Forex markets will resume trading on Thursday, March 26

Domestic forex markets remained shut on Wednesday for the Gudi Padwa festival. Domestic equity as well as commodity markets however operated normally. On Tuesday, the rupee had appreciated by 26 paise to end at 75.94 against the US dollar, gaining some ground after sinking to a lifetime closing low of 76.20 the previous day. Forex markets will resume trading on Thursday, March 26. (Also Read: As World Markets Shiver, Coronavirus Can Push Rupee To 77 Mark Against US Dollar Soon, Say Analysts)

Meanwhile equity markets swung between gains and losses on Wednesday, with benchmark indices S&P BSE Sensex and NSE Nifty moving in a tight range. At 10:55 am, the Sensex traded 70.09 points - or 0.26 per cent - lower at 26,603.94 while the Nifty was down 7.85 points (0.10 per cent) at 
7,793.20. 

Finance Minister Nirmala Sitharaman said on Tuesday that the government will soon announce a fiscal package to aid the economy in its fight against the spread of the coronavirus pandemic. Later in the day, Prime Minister Narendra Modi declared a 21-day countrywide lockdown to curb COVID-19 infections.

In the next month, the forex markets will remain closed for five days in total. On April 1, the markets will assume a holiday for the annual closing of banks. 

The markets will also remain closed on April 2, April 6, April 10 and April 14 for Ram Navami, Mahavir Jayanti, Good Friday and Babasaheb Ambedkar Jayanti respectively. 

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