Call money rate hovers around 5.50 pc, bond prices rise

Mumbai, Apr 27 (UNI) The call money rate hovered around 5.50 per cent as liquidity surplus in the money market continued.

RBI absorbed Rs 64,380 crore from the money market in the one-day reverse repo-auctions held today.

In the call money market operations on April 26, Reserve Bank of India (RBI) had lending and borrowings worth Rs 10,408.32 crore each at the weighted average rate of 5.55 per cent.

In the first one-day reverse repo-auction, Reserve Bank of India (RBI) absorbed 38,755 crore through 33 bids received at 5.50 per cent.

In the second one-day reverse repo-auction, Reserve Bank of India (RBI) injected Rs 25,625 crore through 29 bids received at 5.50 per cent.

In the one-day repo-auctions, Reserve Bank of India (RBI) did not inject any money.

The bond prices were up today encouraged by the consistent fall in the crude oil prices in particular.

The crude oil prices softened further today to USD71.5 per barrel in the New York Mercantile Exchange (NYMEX).

The actively traded 7.38 per cent yield 2018 bond price ended lower at Rs 100.00 up by 10 paise.

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