Call money opens high at 0.50-0.60 per cent

Mumbai, June 5 (UNI) Call money rates today opened marginally higher at 0.50-0.60 per cent as compared to the previous close of 0.40-0.60 per cent.

Overabundance of cash supply in the banking system was evident from the LAF reverse repo bids worth Rs 87,415 crore in the previous session. Hence, call rates continued its easy trends despite outflows worth Rs 20,500 crore this week, dealers said.

The advance tax outflows scheduled end of next week is expected to absorb money from the system and pull the inter bank rates from this extremely low levels, dealers added.

UNI