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Currency Trading Halts on Buddha Purnima, May 23, While Other Markets Stay Open!

On May 23, 2024, the Currency Segment will close for Buddha Purnima, marking a Settlement Holiday, while other trading segments will remain operational as usual.
Currency Trading Halts on Buddha Purnima, May 23, While Other Markets Stay Open!
Currency Trading Halts on Buddha Purnima, May 23, While Other Markets Stay Open!

On May 23, 2024, the Currency Segment will close for trading in observance of Buddha Purnima, marking it as a Settlement Holiday. Although the currency market will be inactive, other trading segments will remain open as usual.

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This day brings specific considerations for investors, particularly regarding transactions from the previous day:

  • Stock Restrictions: Stocks bought on May 22 will be visible in your holdings but cannot be sold on May 23. This restriction is specifically for managing the settlement process affected by the holiday.
  • Credit Bill Access: Credit bills generated for all market segments on May 22 will not be accessible for trading or withdrawal the following day.
  • Withdrawal Delays: Withdrawals requested post 8 AM on May 22 will only be processed on May 24, ensuring all financial operations are postponed to the next working day.
  • Market Availability: Despite the closure of the currency segment, other markets will continue trading. However, no withdrawals will be available on May 23 due to the holiday.

Investors are advised to plan accordingly, keeping in mind these temporary adjustments. The altered settlement schedule is designed to accommodate the double payin/payout scenario, ensuring smooth transaction processing over the holiday period.

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