Call rates show upward rise, close at 9.00-9.25 pc

Mumbai, Dec 22 (UNI) Inter bank call rates witnessed a sharp upward rise as they ended the last day of the fortnight at 9.00-9.25 per cent compared to the previous close of 8.20-8.30 per cent, traders said.

Ahead of the long weekend and a fresh fortnight, most banks, keeping in mind the new CRR requirements, preferred to cover for the same in excess which resulted in the inter bank rates breaching the 10 per cent mark during intra-day trading before consolidating at slightly lower levels.

The LAF window saw the RBI accepting seven bids worth Rs 2,800 crore at the 1-day reverse repo auction in which 56 bids amounting to Rs 23,080 crore were received.

At the CBLO segment, 402 bids worth Rs 15,572 crore were traded in the range of 1.00-9.95 per cent.

Amidst liquidity, it is expected that the week ahead is likely to put further pressure on the inter bank rates. Trading will be closed on Monday for Christmas.

UNI AR MAZ SKB1837