Call rates trade high between 6.65 - 6.75 pc level, bonds subdued

Mumbai, Oct 17 (UNI) Call rates maintained their upward movement and traded high at 6.50 to 6.70 per cent level as liqudity flow shrinked a bit amidst rising Banking demands.

RBI in the call money market on October 15 transacted Rs 20,357.04 crore at the weighted average of 6.66 per cent.

In the first Liquidity adjustment RBI transacted Rs 575 crore through three bids at the rate of 6.00 per cent.

However, RBI did not inject any money through the repo auction.

Gilts however, midst diminishing cash surpluses, fund requirements continue to be high so as to provide for the fortnightly and festive demand. Thus, call rates traded at levels as high as 6.70-6.80 per cent.

However, a rally in US Treasuries helped capped the downside and aided gilts to trade in a range around yesterday's levels.

Today, RBI had fixed the reference rate for the day at Rs 45.36 per USD compared to the previous rate of Rs 45.46 per USD.

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