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Rupee jumps sharply against US dollar as new forex trading hours come into force

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The Indian rupee rose against the US dollar today, tracking sharp gains in the domestic equity markets. The rupee today settled at 75.63 against the US dollar, as compared to the previous close of 76.13 against the US dollar.

The forex market was closed on Monday on account of Mahavir Jayanti. During today's trade, the rupee traded between 75.57 and 75.99.

The Sensex was up about 8% or about 2,400 points in late trade. From today, the new market trading hours for both bonds and foreign exchange came into effect.

The Reserve Bank of India (RBI), in a unprecedented move, has cut market trading hours for both bonds and foreign exchange to four hours, citing possible operational and logistical risks arising from the nationwide lockdown due to

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