Call rates higher at 6.70-6.90 pc, bond prices fall
Mumbai, Mar 31 (UNI) Call money rate traded higher in the range of 6.70-6.90, as compared to the previous close at 5.90-6.10 per cent.
In the first three-day repo auctions, Reserve Bank of India (RBI) injected Rs 8,470 crore through 12 bids received at 6.50 per cent rate.
In the second three-day repo auctions, RBI injected Rs 1,140 crore through five bids received at 6.50 per cent rate.
In the first three-day reverse repo auctions, the Central Bank absorbed Rs 2,305 crore through five bids received in the morning auction and Rs 3,275 crore through 10 bids received in the afternoon auction, both at 5.50 per cent.
In the call money market operations on March 29, RBI had borrowings and lendings worth Rs 11,842.48 crore each at the weighted average rate of 5.95 per cent.
The bond prices ended lower on fears of higher interest rate.
The actively traded 8.07 per cent 2017 bond price dipped sharply to Rs 103.75 while the yield jumped to 7.55 per cent.
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