Call rates little changed from previous close on Friday

The overnight borrowing rates touched a high and low of 7.90% and 7.70% respectively

Interbank call rates were little changed at 7.80/85% from its previous close of 7.80/90% on Thursday, as demand remained steady on expectation of eased liquidity condition, which was backed by the hopes of continued Open Market Operations (OMOs) by the central bank.

Consistent with the stance of monetary policy and based on the current assessment of prevailing and evolving liquidity conditions, the Reserve Bank has decided to conduct Open Market Operations by purchasing the government securities for an aggregate amount of  Rs 10,000 crore on February 15, 2013.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 120,120 crore through repo window on February 15, 2013, while banks using LAF facility borrowed Rs 119,795 crore through repo window on February 14, 2013 and parked Rs 10 crore via reverse repo window on the same day.

The overnight borrowing rates touched a high and low of 7.90% and 7.70% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.83% on Friday and total volume stood at Rs 26,583.12 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.75% on Friday and total volume stood at Rs 34,881.45 crore, so far.

The indicative call rates which closed at 7.80/90% 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, so far.