Call money opens lower at 7.60-7.80 pc

Mumbai, May 28 (UNI) Call money rates opened slightly lower today at 7.60-7.80 per cent as compared to their previous close of 7.75-8 per cent on Friday.

Indian federal bonds climbed to one-month high today, boosted by the absence of market stabilisation bonds (MSS) sales for this week and slowing headline inflation.

The yield on the 10-year federal bond was at 8.08 per cent, compared with the previous close of 8.12 per cent. It hit a one-month high of 8.03 per cent at the open, dealers said.

Traded volume was Rs 1,735 crore in the first 45 minutes of trade, according to the central bank's electronic trading platform.

The total outstanding balance under the MSS stood at Rs 88,802 crore as on May 18. The central bank, which usually announces the sale for the coming week on every Friday, last sold MSS bonds on May 16, dealers added.

UNI