Interbank call rates were trading higher at 7.45/7.50% against Tuesday’s close of 7.35/7.40% as good demand was witnessed by borrowing banks. The rates are expected to remain at these levels as banks usually borrow for their fortnightly requirements in the first week of reporting cycle in order to avoid the volatility of rates going further.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 3617 crore through repo auction on March 25, 2015, while banks via LAF facility borrowed Rs 3297 crore through repo window and parked Rs 7894 crore through reverse repo auction on March 24, 2015.
The overnight borrowing rates touched a high and low of 7.60% and 6.90% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 7.41% on Wednesday and total volume stood at Rs 20360.45 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 7.41% in Wednesday and total volume stood at Rs 50070.20 crore, so far.
The indicative call rates which closed at 7.35/7.40% 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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