Call money closes low at 7.70-7.80 pc

Mumbai, Jan 31 (UNI) Call money rates stood at 7.70-7.80 per cent as against Monday's closing level of 7.70-7.90 per cent, dealers said.

The modest borrowing requirements of the banks was comfortably met with by the existing supply.

The monetary policy outcome which was on expected lines also helped the inter bank rates to stay soft.

At the LAF window, the RBI accepted five bids worth Rs 115 crore at the 2-day reverse-repo auction while at its 2-day repo auction, 35 bids worth Rs 14,010 crore were received.

The CBLO segment had 338 bids amounting to Rs 17,672 crore getting transacted in the range of 7.09-7.85 per cent.

With the Central bank hiking the repo rate by 25 bps, liquidity is expected to come under pressure. Call money rates are hence likely to tighten marginally, dealers added.

UNI