Forex market to remain shut for annual closing of banks

MUMBAI: Forex markets to remain shut on Thursday for the annual closing of banks.

On Wednesday, the local curreny closed higher by 26 paise at 73.12 (provisional) against the US dollar and ended the fiscal on a strong note with a gain of over 3 per cent despite coronavirus-induced disruptions on the economic front. At the interbank forex market, the local unit opened at 73.56 against the greenback and witnessed an intra-day high of 73.05 and a low of 73.58 on Wednesday.

Forex traders said market participants remained cautious as the Indian currency markets will remain shut on 1st and 2nd of April. The Indian currency markets will be closed on Thursday and Friday for annual bank closing and Good Friday holiday respectively.