Call money ends dips at 05.50-06.00 per cent

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Mumbai, Feb 5 (UNI) Interbank call money rates closed lower for the second consecutive day today at 05.00-5.50 per cent as against 06.00-06.50 per cent the previous day on selling pressure by local operators.

Resuming firm at 6.00/6.15 per cent, the rates fluctuated in a narrow range at 5.00 to 6.50 during the session.

Reserve bank of India has released one day's reverse repo and repo auction at around Rs 9,190 crore each, with interest rate of six per cent.

A total of 14 bids were accepted by RBI, brokers said. It recorded a volume of one leg of Rs 23,716.20 crore and weighted an average rate of 6.48 with a range of 5.00-6.85 during the session, a RBI release said.

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