Interbank call rates were trading bit changed at 8.05/8.10% from its previous close of 8.00/8.10%, as demand remained steady despite being the first week of reporting cycle and also as liquidity is expected to remain tight ahead of advance tax outflows in mid-December as well as likely higher currency in circulation due to state elections.
The Reserve Bank of India (RBI) bought back Rs 11,642 crore worth of government securities in an auction held on Monday. The central bank had planned to buy back Rs 12,000 crore of bonds under its so-called open market operations or OMOs to infuse liquidity in the banking system by selling four bonds with maturities between six and 15 years.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 79,625 crore via repo window on December 5, 2012. While, the banks using LAF facility borrowed Rs 94,415 crore through repo window on December 4, 2012.
The overnight borrowing rates touched a high and low of 8.10% and 8.00% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.00% on Thursday and total volume stood at Rs 13,815.88 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.99% on Thursday and total volume stood at Rs 34,682.45 crore, so far.
The indicative call rates which closed at 8.00/8.10% on Wednesday 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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