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Call rates edge higher ahead of holiday truncated week

29 Mar 2012 Evaluate

Interbank call rates were at 9.50/9.55%, up from Wednesday's close of 9.40/45%, as liquidity remained tight in the first half of the two-week reporting cycle. Further, with the other week being a holiday truncated week with only two days of working, banks have preferred to borrow early for their mandated requirements. 

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 161,015 crore through repo window on March 29, 2012. The banks via LAF borrowed Rs 163,875 crore through repo window and parked Rs 5 crore via reverse repo window on March 28, 2012.

The overnight borrowing rates has touched a high of 9.10% and a low of 5.00%, so far.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.67% on Wednesday and total volume stood at Rs 10,173.00 crore.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.52% on Wednesday and total volume stood at Rs 54,596.00 crore.

The indicative call rates which closed at 9.40/45% on Wednesday 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 Bank, State Bank of India, Union Bank of India, ING Vysya Bank, BNP Paribas, HDFC Bank, P&S Bank.

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