Call money opens at 3.00-3.25 per cent

Mumbai, Jun 13 (UNI) Call rates opened at 3.00-3.50 per cent on Wednesday, slightly higher than their previous closing level of 3.00-3.25 per cent on Tuesday.

Though demand for funds is on the higher side due to huge outflows, availability of fund is yet sufficient to meet the requirements. LAF reverse repo auction received bids worth Rs 62,125 crore yesterday.

With more auction outflows and advance tax payment due, available cash will be squeeze. However, heightened pressure on liquidity is yet not foreseen and further action from the RBI would be watched out for, dealers added.

UNI