Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher 5.88% from its previous close of 5.84% on Thursday as demand remained on the higher side at the end of first week of reporting cycle.
The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 3160 crore via three days repo window on November 17, 2017, while they borrowed Rs 3180 crore via repo window and parked Rs 4002 crore via reverse repo window on November 16, 2017.
The overnight borrowing rates touched a high and low of 6.05% and 5.00% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 5.78% on Friday and total volume stood at Rs 49672.67 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 5.88% on Friday total volume stood at Rs 123210.65 crore, so far.
The indicative call rates which closed at 5.84% on Thursday, 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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