Call money opens high at 8.5 per cent

Mumbai, May 17 (UNI) Interbank call rates today opened to edge up slightly to 8.50-9.00 per cent from the previous day's closing level of 8.25-8.50 per cent.

Dealers said, ''The money market was in a deep cash deficit but expectation that liquidity would improve in the coming days was helping call money quotes to stay in a range even as the RBI was helping the market by infusing cash through the LAF. Banks were raising rupee resources by resorting to dollar liquidation in the currency market as well. Money market rates are expected to stay in a range.

UNI