Forex market is an international decentralized market that has no geographical limit and it is open 24 hours a day and five days a week. This has been made possible due to the fact that when a major international trading center is closed, another one gets opens, Out of which, some business periods are the same in these different markets. The overlapping period is usually the period when the level of trade is highest, that's why the time is considered to be the most suitable for availing of business opportunities.

The time of market opening and closing is different in summer and winter months, due to which many countries make changes in it or we can say make changes according to Daylight Saving Time (DST). When America's time changes from EST (UTC-5) to EDT (UTC-4) and vice versa and etc.

Information about the opening and closing of major international trading sessions are given below, as per which we keep track of the forex market 24 hours in a day and 5 days a week.

Area City Summer Winter
Asia Tokyo 00:00 - 06:00 00:00 - 06:00
Singapore 01:00 - 09:00 01:00 - 09:00

Europe Frankfurt 07:00 - 15:30 08:00 - 16:30
London 07:00 - 15:30 08:00 - 16:30

US New York 13:30 - 20:00 14:30 - 21:00
Chicago 13:30 - 20:00 14:30 - 21:00

Pacific Wellington 21:00 - 03:45 22:00 - 04:45
Sydney 23:00 - 05:00 00:00 - 06:00

Forex Market In India:-

As per RBI guideline, it is legally allowed to trade in Forex within Indian Exchanges like BSE, NSE, MCX-SX. all Indian resident like banks and financial institutions can do forex trading in currency pairs. Forex which does not allow for participating in a currency market that is foreign institution investors (FIIS) and Non-Resident Indians (NRIs), on the international level any currency can be traded. But, on the Multi Commodity Exchange (MCX- SX), only 4 major currencies are traded against the Indian Rupee.

Author's Bio: 

I am from Trifid Research and through it, we provide Free Currency Tips and Free Forex Tips