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Call rates edge higher on Wednesday
Oct-17-2018

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 6.58% from its previous close of 6.54% on Tuesday, as demand remained on the higher side in the first week reporting cycle.

The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 16708 crore via two days repo window on October 17, 2018, while they borrowed Rs 7047 crore via repo window and parked Rs 11436 crore via reverse repo window on October 16, 2018.

The overnight borrowing rates touched a high and low of 6.65% and 5.10% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.49% on Wednesday and total volume stood at Rs 72119.42 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.51% on Wednesday total volume stood at Rs 153504.95 crore, so far.

The indicative call rates which closed at 6.54% on Tuesday, 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.

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