Call money ends at 8.00-8.50 per cent

By Staff
|
Google Oneindia News

Mumbai, Apr 27 (UNI) Call rates ended softer at 8.00-8.50 per cent from their previous close of 9.00-9.25 per cent.

The call money market will remain closed on Saturday and will reopen on Monday.

With only a few lenders in the market, high borrowings to provide for the residual fund requirements and auction demands, sustained fund mismatches. Thus call rates hovered at 13 to 14 per cent levels in the early trades, dealers said.

However, unlikely as demand tapered towards the end of the session, rates eased.

At the RBI LAF window, 28 bids worth Rs 10,995 crore were accepted at three-day repo auction. Though, subscriptions for 10 bids worth Rs 2,585 crore were received at the three-day reverse repo auction, the RBI accepted only Rs 999 crore.

At the CBLO segment, 492 bids worth Rs 21,712 crore were traded in the range of 0.30-8.75 per cent.

The new fortnightly requirements coupled with auction outflows worth Rs 6,000 crore and the second phase of CRR hike coming into effect tomorrow, are likely to sustain pressure on call rates.

UNI

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