The money markets will remain closed on Monday January 22 as the Government of Maharashtra has declared that day as a public holiday for celebrations relating to the consecration ceremony in Ayodhya.
“There will be no transactions and settlements in Government securities (primary and secondary), foreign exchange, money markets and Rupee Interest Rate Derivatives on January 22, 2024 (Monday). Settlement of all outstanding transactions will accordingly get postponed to the next working day i.e., January 23, 2024 (Tuesday),” the Reserve Bank of India (RBI) said in a circular.
The 3-day Variable Rate Repo (VRR) auction conducted on Friday with date of reversal on January 22, 2024 (Monday) will now be reversed on January 23, 2024 (Tuesday). “The 3-day VRR auction announced earlier on Frida stands cancelled. Instead, a 2-day VRR auction will now be conducted on January 23, 2024 (Tuesday),” RBI added.
Also the facility of exchange / deposit of ₹2000 banknotes will not be available on Monday, January 22, 2024 at any of the 19 Issue Offices of RBI due to the half-day closure announced by the Government of India. “The facility will resume on Tuesday, January 23, 2024,” RBI added.
