Call money closes higher at 6.50-6.70 pc

Mumbai, Feb 12 (UNI) Interbank call money rates were today up by 6.50-6.70 per cent during the closing session, from their Friday's close of 6.30-6.50 per cent, dealers said.

Bond auction outflows alongwith borrowing requirements from a few state run banks resulted in the tightening of inter bank rates.

However, persistent though suspected, intervention by the RBI through dollar buying aided the money market liquidity which averted any major upswing in the call money rates.

At the LAF window, the RBI accepted seven bids worth Rs 2,155 crore at the 1-day reverse-repo auction while no bids were received at the 3-day repo auction.

The CBLO segment saw 373 bids worth Rs 21,937 crore being traded in the range of 6.18-8.00 per cent.

On account of comfortable liquidity, call money rates are expected to remain soft, dealers added.

UNI