Call rates changed little from previous close

The overnight borrowing rates touched a high and low of 7.35% and 7.20% respectively

Interbank call rates were little changed at 7.25/30% from its previous close of 7.20/30% on Thursday as demand steadied in the first week of the new reporting fortnight. The Reserve Bank of India, so far, has desisted so far from announcing an open market operation this week, despite liquidity remaining tight.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 81,855 crore through repo window on May 24, 2013, while banks using LAF facility borrowed Rs 98,405 crore via repo window on May 23, 2013.

The overnight borrowing rates touched a high and low of 7.35% and 7.20% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.26% on Friday and total volume stood at Rs 22069.51 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.24% on Friday and total volume stood at Rs 43485.85 crore, so far.

The indicative call rates which closed at 7.20/7.30% 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.