Call rates expected to trade in 6.0-6.1 range, gilts to inch up

Mumbai, Aug 20 (UNI) The call rates in the money market are expected to trade in the range of 6.0 to 6.1 per cent level, as a strong liquidity flow is maintained in the market.

RBI in totality transacted money between Rs 29,000 to Rs 38,000 crores and is expected to transact anything between the same ranges next week too.

On the basis of this week's performance, it can be judged that forward premia for six months and one year will be fixed little higher in the range of 1.45 and 1.30 per cent respectively.

Gilts are expected to continue their current trend and would trade little high as the Rupee is expected to firm up and also as the stocks market is expected to open in the green.

The reference rate will be influenced by the global performance of the dollar, which has firmed up compared to Asian currencies.

Reference Rate is likely to be between Rs 46.30/US Dollar to Rs 46.60/US Dollar.

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