Interbank call rates were trading lower at 8.05/10% from its previous close of 8.10/8.15% on Thursday, as most banks’ already covered their mandated requirements on reporting Friday. Call rates are expected to rise with the start of new reporting cycle. Meanwhile, dealers are widely expecting RBI to hold an open market operation next week to infuse cash into the banking system.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 112,850 crore through repo window on November 15, 2012, while, the banks using LAF facility borrowed Rs 106,485 crore via repo window and parked Rs 15 crore via reverse repo window on November 12, 2012.
The overnight borrowing rates touched a high and low of 8.10% and 7.90% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.00% on Friday and total volume stood at Rs 22,332.33 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.77% on Friday and total volume stood at Rs 7930.55 crore, so far.
The indicative call rates which closed at 8.10/15% 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.
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