Call rates end lower at 5.00-5.50 pc

Mumbai Sept 28 (UNI) Call rates closed lower today at 5.00-5.50 per cent, compared to the previous close of 7.00-7.15 per cent, at the inter bank call money market.

In the opening session, call rates shot up to 9 per cent on account of last minute rush for funds by banks to cover up their positions in view of fortnightly reporting today, dealers opined.

The half-yearly closing of the banks also forced banks to borrow funds to fulfill the mandatory fund requirements, dealers added.

UNI