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Call rates edge lower on higher repo borrowing

25 Apr 2013 Evaluate

Interbank call rates were little changed at 7.60/65% from its previous close of 7.70/80% on Tuesday. Cash rates edged lower as the bank’s preferred to borrow from RBI’s repo counter at the lower repo rate of 7.50%.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 98995 crore through repo window on April 25, while they borrowed Rs 92815 crore via 2 days repo window and parked Rs 20 crore via reverse repo window on April 23, 2013.

The overnight borrowing rates touched a high and low of 7.60% and 7.40% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.54% on Thursday and total volume stood at Rs 30169.76 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.49% on Thursday and total volume stood at Rs 44041.85 crore, so far.

The indicative call rates which closed at 7.70/80% 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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