Interbank call rates traded little higher at 8.10/8.20 percent compared with its previous close of 8.05/8.10 percent, on mounting demand in the first week of the reporting fortnight. However, India’s overnight cash rate ended unchanged at 8.05/8.10 percent on Tuesday, with banks’ borrowing from the central bank repo window climbing to a new eight-and-a-half month high.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 151,770 crore via repo window on December 18, 2012, while bank by using LAF facility borrowed Rs 146,300 crore via repo window on December 17, 2012.
The overnight borrowing rates touched a high and low of 8.14% and 8.05% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.16% on Wednesday and total volume stood at Rs 10,103.03 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.10% on Wednesday and total volume stood at Rs 13,751.85 crore, so far.
The indicative call rates which closed at 8.05/8.10% 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.
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