HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Call rates edge higher on Tuesday
Oct-23-2018

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 6.55% from its previous close of 6.54% on Monday, as demand remained on the higher side even in the second week of reporting cycle. The rates are expected to be lower in coming days since most of the banks would have already fulfilled their fortnightly product requirements.

The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 6546 crore via three days repo window on October 23, 2018, while they borrowed Rs 18768 crore via repo window and parked Rs 8953 crore via reverse repo window on October 22, 2018.

The overnight borrowing rates touched a high and low of 6.60% and 5.10% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.47% on Tuesday and total volume stood at Rs 69998.09 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.48% on Tuesday total volume stood at Rs 153757.40 crore, so far.

The indicative call rates which closed at 6.54% on Monday, were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.

  RELATED NEWS >>