Call money closed steady at 7 per cent

Mumbai, Feb 8 (UNI) After inching up above 7 per cent in the initial trade, call money rates closed nearly steady at 6.75-7.00 per cent on account of ample liquidity in the market ahead of the RBI's bond auction scheduled to be conducted on February nine.

The Call rates opened at 7.35-7.50 per cent, but the rates came down to the previous level of 6.75-7.00 per cent on the easy liquidity position, dealers said.

Dealers said that market was awaiting the auction of Rs 9,000 crore of bonds, Rs 6,000 crore of a seven-year bond and Rs 3,000 crore of a 29-year bond, scheduled for tomorrow.

Dealers expect some action in the call only after the outflow of liquidity at the begnning of next week.

UNI