Call money ends at 9.50-10.00 per cent

Mumbai, Apr 20 (UNI) Call money remained unchanged and ended at 9.50-10.00 per cent on Friday compared to its previous close of 9.50-10 per cent yesterday.

During the day it touched a high of 10.25 per cent and a low of nine per cent. The call money market will remain close on Saturday and will reopen on next Monday.

The second leg of the increase in the reserve requirements will take effect on April 28. Further, the Reserve Bank of India will sell Rs 3,000 crore (USD 715 billion) of market stabilisation bonds.

Rs 7,700 crore government bond issue will mature in the coming week and the redemption funds will be arriving in the market by next week which has contributed to ease the concerns and extended squeeze on cash, dealers said.

The Central Bank will review its monetary policy on April 24. It has raised reserve requirements three times since early December and its short-term lending rate twice in 2007 to try to curb inflation.

UNI