Call rates opens high at 3.50-4.50 per cent

Mumbai, June 26 (UNI) Call rates opened at 3.50-4.50 per cent on Tuesday, higher than their previous closing level of 2.75-3.25 per cent.

Though borrowing requirements are high due to outflows towards T-bills auction, huge cash supply in the money market has smoothly provided for the same, dealers opined.

The RBI received bids worth Rs. 61,070 crore in the preceding session. Thus rates traded easy, way below the reverse repo rate.

Inter-bank rates are likely to trade in the comfortable zone around current levels.

UNI