Interbank call rates were trading marginally higher at 8.05/10% from its previous close of 7.95/8.00% on Friday. The call rates ended at 7.90/8.00% in an illiquid market on Saturday. Liquidity has tightened in the absence of government spending, high government cash balances with the central bank and large currency with the public due to the festival season. Call rates are expected to tighten in coming days too as corporates will pay quarterly advance taxes this week.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 102,820 crore via repo window and parked Rs 1,820 crore on December 7, 2012.
The overnight borrowing rates touched a high and low of 8.10% and 7.95% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.01% on Monday and total volume stood at Rs 14,121.14 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.99% on Monday and total volume stood at Rs 39,896.05 crore, so far.
The indicative call rates which closed at 7.95/8.00% on Friday 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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