Call rates edge higher on Wednesday

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 6.52% from its previous close of 6.41% on Tuesday, as demand remained on higher side in the first week of reporting cycle.

The banks via Liquidity Adjustment Facility (LAF): Fixed Rate Repo Operations borrowed Rs 5281  crore via three days repo window on May 18, 2016, while they borrowed Rs 12497  crore via repo window and parked Rs 3103 crore via reverse repo window on May 17, 2016.

The overnight borrowing rates touched a high and low of 6.65% and 5.40% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.50% on Wednesday and total volume stood at Rs 32789.51 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.46% on Wednesday and total volume stood at Rs 80496.85 crore, so far.

The indicative call rates which closed 6.41% 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