Interbank call rates were trading unchanged at its previous close of 7.65/70% on Wednesday, as demand eased given that most of the banks had already covered for their product needs. However, cash conditions are expected to further ease once government spending picks up in April and the advance tax outflows start returning to the system
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 1, 39815 crore through repo window on March 21, 2013, while banks using special LAF facility borrowed Rs 1,30840 crore through repo window and parked Rs 345 crore via reverse repo window on March 20, 2013.
The overnight borrowing rates touched a high and low of 7.80% and 7.50% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.70% on Thursday and total volume stood at Rs 22716.31 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.58% on Thursday and total volume stood at Rs 13688.65 crore, so far.
The indicative call rates which closed at 7.65/70% 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, so far.
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