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Call rates edge higher at the end of first week of reporting cycle

09 Feb 2018 Evaluate

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher 5.94% from its previous close of 5.90% 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 2530 crore via three days repo window on February 09, 2018, while they borrowed Rs 2500 crore via repo window and parked Rs 4101 crore via reverse repo window on February 08, 2018.

The overnight borrowing rates touched a high and low of 6.10% and 5.00% respectively. 

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 5.88% on Friday and total volume stood at Rs 54436.92 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 5.90% on Friday total volume stood at Rs 124471.25 crore, so far.

The indicative call rates which closed at 5.90% 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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