Call money closes low at 7.70-7.90 pc

Mumbai, Jan 29 (UNI) Interbank call money rates today closed down marginally at 7.70-7.90 per cent as against their previous close of 7.80-8.00 per cent, dealers said.

With the existing supply proving sufficient for the modest borrowing requirements of the banks, call money rates continued to trade on the lower side.

At the LAF window, the central bank accepted six bids worth Rs 765 crore at the 2-day reverse-repo auction while at its 2-day repo auction, 19 bids amounting to Rs.5,175 crore were received.

The CBLO segment saw 338 bids worth Rs 19,907 crore getting transacted in the range of 7.00-7.27 per cent.

Due to soft borrowing requirements, call money rates are likely to trade soft. However, the monetary policy meet would be keenly followed to get fresh cues.

The trading in call money market will remain officially closed tomorrow on account of the death anniversary of Mahatama Gandhi and Moharrum, traders added.

UNI