Interbank call rates were trading higher at 8.00/8.05% versus Monday’s close of 7.50/7.60%, as demand gained momentum despite being second week of reporting cycle. However, further uptick of overnight rates is unlikely as most banks would have already fulfilled their fortnightly requirements.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 12216 crore through repo auction on May 27, 2014, while it borrowed Rs 15969 crore through repo auction and parked Rs 6687 crore via reverse repo window on May 26, 2014.
The overnight borrowing rates touched a high and low of 8.05% and 7.85% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.01% on Tuesday and total volume stood at Rs 25398.36 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 8.00% on Tuesday and total volume stood at Rs 21647.40 crore, so far.
The indicative call rates which closed 7.50/7.60% 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.
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