14 September,2026 10:37 AM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The Indian forex market will remain closed on Monday, September 14 on account of Ganesh Chaturthi.
On Friday, paring most of its initial losses, the rupee settled at 95.54 against the US dollar, down by 2 paise, amid an easing in crude oil prices and possible Reserve Bank of India (RBI) intervention, according to news agency PTI.
At the interbank foreign exchange market, the rupee opened at 95.70 against the US dollar and declined further to 95.79. However, the Indian currency recovered to close down by 2 paise at 95.54 against the American currency. The rupee had depreciated 44 paise to close at 95.52 against the US dollar on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 930.90 crore on a net basis on Friday. However, as per the RBI data on Friday, India's forex reserves surged USD 44.903 billion to a scale a lifetime high of USD 785.706 billion during the week ended September 4.
According to the RBI website, banks will remain closed on account of Ganesh Chaturthi/Ganesh Puja/Varasiddhi Vinayaka Vrata/Vinayakar Chathurthi/Hartalika. However, it is not a national holiday and only some states including Maharashtra have a bank holiday. The states where it is bank holiday are Andhra Pradesh, Goa, Karnataka, Maharashtra, Odisha, Tamil Nadu, Telangana.
According to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) the stock market will remain closed for trading on Monday, September 14 in observance of Ganesh Chaturthi. Investors would be unable to purchase or sell equities, equity derivatives, as the festival is part of the holiday calendar for both BSE and NSE.
On Friday, the 30-share BSE Sensex dropped 120.83 points or 0.16 per cent to end at 74,781.76. The 50-share NSE Nifty slipped 79.70 points or 0.34 per cent to settle at 23,398.10.
Besides, in the commodity market, as per the Multi Commodity Exchange (MCX) the morning session between 9 am to 5 pm will remain closed for trading on account of Ganesh Chaturthi, while it will resume its operations in the evening at 5 pm.
Ganesh Chaturthi, also known as Vinayaka Chaturthi, is one of the most widely celebrated festivals among Hindus. The occasion marks the birth of Lord Ganesha, who is revered as the remover of obstacles and the God of wisdom and prosperity. The festival is marked by spiritual rituals and lively celebrations.
(With inputs from PTI)
