Call money closes high at 8.25-8.50 pc

Mumbai, Jan 9 (UNI) Call rates today rose marginally to 8.25-8.50 per cent from their preceding close of 8.00-8.10 per cent, dealers said.

Amidst dwindling cash surpluses, comparatively lesser demand requirements from the banks meant that the call rates tightened only marginally.

The LAF window saw the central bank receive only 5 bids worth Rs.140 crore at the 1-day reverse repo auction, whereas at the 1-day repo auction had 44 bids worth Rs.18,135 getting accepted.

At the CBLO segment, 332 bids amounting to Rs.18,459 crore were transacted in the range of 7.21-7.50 per cent.

Most banks are expected to borrow in excess for a few more days.

And with the liquidity not showing much signs of any substantial improvement, inter bank rates are likely to move up even further, dealers added.

UNI