Interbank call rates were trading higher at 8.20/8.35% against its Friday's close of 7.00/7.10% as demand edged higher at the start of fresh reporting cycle. The rates are expected to remain around these levels in the first half of reporting cycle, where most of the borrowing takes place.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 18042 crore through repo auction on April 07, 2014. The banks via LAF borrowed Rs 5102 crore through repo auction and parked Rs 135 crore via reverse repo window on April 04, 2014.
The overnight borrowing rates touched a high and low of 8.50% and 8.20% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.30% on Monday and total volume stood at Rs 29704.38 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 8.20% on Monday and total volume stood at Rs 26897.15 crore, so far.
The indicative call rates which closed 7.00/7.05% on Friday 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.
