The foreign exchange (forex) market is the largest and most liquid financial market in the world, with over $7.5 trillion traded daily. Unlike stock markets that open and close in a single country, forex runs 24 hours a day, five days a week, because trading shifts between global financial centres. For traders in India, knowing the forex market hours in IST (Indian Standard Time) is crucial. This ensures you are trading during high liquidity periods and avoiding times of low volatility or high spreads.
Forex Opening and Closing Times in India
While the forex market is decentralized, it follows a clear weekly cycle:
- Market opens (India time): Monday, 3:30 AM IST
- Market closes (India time): Saturday, 3:30 AM IST
This schedule reflects the global Sunday evening open in New York (22:00 UTC) and Friday evening close (22:00 UTC). For Indian traders, this means forex trading effectively runs from early Monday morning until early Saturday morning without interruption.
Also read: 10 Most Traded Commodities in the World
The Four Major Forex Sessions in IST
The forex market is divided into four main sessions based on key financial hubs. Below are their timings in IST:
| Session | IST Timing | Key Currencies | Notes |
| Sydney (Asia–Pacific) | 2:30 AM – 11:30 AM | AUD, NZD | Opens the global trading week |
| Tokyo (Asia) | 5:30 AM – 2:30 PM | JPY, SGD, HKD | High activity for Asian currencies |
| London (Europe) | 12:30 PM – 9:30 PM | EUR, GBP, CHF | Most active session with high liquidity |
| New York (US) | 6:30 PM – 3:30 AM | USD, CAD | Overlaps London, creating major volatility |
Overlapping Sessions — The Best Time to Trade from India
The most profitable times for Indian traders usually occur when two major markets overlap. That’s when liquidity, volatility, and trading volume are highest.
- London–New York Overlap (6:30 PM – 9:30 PM IST): This is the busiest period of the day. Both USD and EUR pairs show maximum volatility.
- Tokyo–London Overlap (12:30 PM – 2:30 PM IST): Less intense than the US overlap, but good for EUR/JPY and GBP/JPY trading.
Why Forex Timings Matter in India?
Understanding session timings is not just about convenience, it directly affects your trading performance:
- Liquidity: Wider spreads in quiet sessions (like late Sydney) may eat into profits.
- Volatility: Major economic news (e.g., U.S. NFP jobs report) is released during New York hours, creating sharp moves.
- Strategy Matching:
- Scalpers thrive in high-volatility overlaps.
- Swing traders may prefer steady London session trends.
- The Asian session is quieter, suitable for range traders.
- Scalpers thrive in high-volatility overlaps.
Forex Holidays — When Markets Slow Down
Unlike the Indian stock market (NSE/BSE) which has fixed holidays, forex is an OTC (over-the-counter) market that doesn’t “close” globally. But when major banks and financial centres are closed for public holidays, trading volume drops significantly. This causes:
- Wider spreads
- Low liquidity
- Sudden price spikes
Indian traders should pay attention to international holidays, not just Indian ones.
Major Forex Holidays That Impact Indian Traders
Here are the most important holidays (by region) that typically reduce liquidity in the forex market. Dates change each year, so check your broker’s holiday calendar.
Global / Widely Observed Holidays
- New Year’s Day (Jan 1) — Markets worldwide shut.
- Good Friday & Easter Monday (March/April, variable) — Major Western banks closed.
- Christmas Day (Dec 25) — Global closure.
- Boxing Day (Dec 26) — UK, Australia, Canada holidays.
United States (impacting USD pairs)
- Independence Day (July 4)
- Thanksgiving (4th Thursday in November)
- Labor Day (1st Monday in September)
Europe/UK (impacting EUR, GBP pairs)
- May Day (May 1) — Labour Day holiday in Europe.
- UK Summer Bank Holiday (August, last Monday)
- Boxing Day (Dec 26)
Asia-Pacific (impacting JPY, AUD, NZD, CNY pairs)
- Golden Week (Japan, late April–early May)
- Marine Day / Mountain Day / Coming of Age Day (Japan)
- Chinese New Year (late Jan/early Feb, China, HK, Singapore)
- Australia Day (Jan 26)
India (INR impact, though INR pairs are restricted domestically)
While INR pairs are largely traded on NSE/BSE, major Indian bank holidays such as Republic Day (Jan 26), Independence Day (Aug 15), Gandhi Jayanti (Oct 2), and Diwali (Oct/Nov) reduce activity in INR-based forex contracts.
Checklist for Indian Traders Around Holidays
- Check Broker Notifications: Most brokers publish a holiday schedule for forex and CFDs.
- Avoid Low-Liquidity Trading: Spreads widen during holidays, especially on USD and EUR pairs.
- Be Careful Before Weekends: Forex closes at 3:30 AM IST on Saturday; avoid leaving large positions open to prevent weekend gaps.
- Watch News Releases: Economic data from the US and EU (released during Indian evenings) can create big moves on thin holiday trading.
Also read: Vikram Solar IPO GMP Today – Grey Market Premium, Price Band, and Allotment Details
Conclusion
For Indian traders, the forex market runs from Monday 3:30 AM IST until Saturday 3:30 AM IST, across four major sessions: Sydney, Tokyo, London, and New York. The best trading window is usually the London–New York overlap (6:30–9:30 PM IST), which suits traders in India as it falls in the evening.
However, international holidays such as New Year’s Day, Good Friday, and Christmas significantly reduce market activity, so you should adjust your strategies accordingly. Always double-check your broker’s holiday calendar before trading around these dates. By mastering forex market hours in IST and being mindful of global holidays, Indian traders can trade with better timing, avoid unnecessary risks, and maximize opportunities.
