Call rates closes at 7.25-7.50 percent

Mumbai, May 4 (UNI) Call money rates today eased further to close at 7.25-7.50 percent compared to previous close of 9.00-9.25 percent.

During the day, it touched a high of 8.50 percent and a low of 7.00 percent, said dealers.

Earlier in the morning session, call rates opened low at 8.25-8.50 percent.

Improved cash supply, largely due to the government spendings, was reflected at the LAF auction, which dragged the call rates, dealers said.

At the LAF window, The Reserve Bank of India (RBI) accepted 6 bids worth Rs1,945 crore at the 3-day repo window, while 5 bids worth Rs 1,130 crore were received at the 3-day reverse repo window.

In the CBLO segment, 408 bids worth Rs.18,300 crore were traded in the range of 2.00-7.35 percent, said brokers.

UNI