Call rates at 5.60-5.80 per cent, bond price goes up
Mumbai, Apr 5 (UNI) Call rates closed in the range of 5.60-5.80 per cent as liquidity conditions seemed to ease further after the closure of the financial year 2005-06.
The Reserve Bank of India absorbed Rs 29,990 crore through daily reverse-repo auctions from the money market while it didn't inject any money in the market.
In the first two-day reverse repo-auction, RBI absorbed Rs 9,710 crore through 14 bids received at 5.50 per cent.
In the second two-day reverse repo-auction, RBI absorbed 20,280 crore through 32 bids received at 5.50 per cent.
In the two-day repo-auctions, Reserve Bank of India (RBI) didn't receive any bid.
In the call money market operations RBI had borrowing and lendings worth 11,661.39 crore each at weighted average rate of 6.04 per cent.
The bond prices ended higher as liquidity crunch seemed to be getting over.
The actively traded 8.07 per cent 2017 bond price ended higher by 13 paise at Rs 103.92, while the yield dropped by two basis point to 7.53 per cent.
UNI RRP MJ SKB1906