Eid Al-Adha, or the 'Feast of Sacrifice,' is one of the two major Islamic holidays celebrated worldwide. In the financial context, it leads to multi-day closures of stock exchanges across the Middle East and North Africa (MENA) region, including the Saudi Exchange (Tadawul) and Dubai Financial Market. While it has minimal impact on Western G10 currency pairs, it significantly affects regional liquidity and trading in energy-related equities. The holiday duration can vary from three to over seven days depending on the country.
The date is determined by the Islamic lunar calendar, falling on the 10th day of Dhu al-Hijjah. The exact Gregorian date is confirmed by moon sighting.
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