Call money higher at 7.75/8.00 per cent

Mumbai, Dec 13 (UNI) Interbank call money rates closed at 7.75-8.00 per cent today, substantially higher from its last closing level of 7.25-7.35 per cent, dealers said.

New fortnightly targets, state loan auctions, advance tax payments and a big IPO are keeping the borrowing requirements on the higher side.

With no much inflows expected in the system, product mismatches continue to exert pressure on the overnight rates.

Shrinking cash surpluses was further evident from the refinance drawn from the central bank that stood at Rs. 511 crore as against Rs.146 crore previously, dealers added.

UNI AR OBB AG1930