A bank or public holiday is a holiday approved by the State. Traditionally, public holidays are celebrations of significant national, cultural, or religious events. Banks and other businesses are generally closed for the duration of a public holiday and therefore transactions cannot be settled in the country/currency in question on these days. For example, spot FX transactions, which take two business days to clear, will take a day longer if this period includes a public holiday in the country of one of the traded currencies. It is useful to be aware of when in the year public holidays fall and that different countries have different public holidays. Knowledge of the dates and reasons for different countries’ public holidays can give you an insight into the national character. Below is a table detailing the public holidays for a selection of countries and regions.