Call money closes flat at 8.25 pc

Mumbai, May 18 (UNI) Interbank call money rates ended steady today at 8-8.25 per cent from its last close on ample funds at the markets in the face of poor demand, dealers said.

During the day, the rates touched a high of 8.30 per cent and a low of 7.90 per cent.

Earlier, the rates opened steady at 8.00-8.25 per cent but above the LAF repo rate with the money market being in a deficit.

Anticipation of improvement in the liquidity conditions and ongoing support from the Reserve Bank of India (RBI) have helped call rates to stay in a range despite a deficit. The central bank infused Rs 24,550 crore through the LAF repo window yesterday.

Inter bank rates are likely to hover around the current levels, dealers added.

UNI