Call money opens low at 7.00-7.25 pc

Mumbai, Dec 31 (UNI) Inter-bank call money rates today opened marginally lower at 7.00-7.25 per cent compared to its previous close of 7.50-7.80 per cent at the last day of outgoing year 2007.

During the intra-day trading, it touched a high of 7.50 per cent and a low of 7.00 per cent.

According to market watchers, call rates will remain in the range of 7.00-8.00 per cent as the liquidity in the market is tight due to less trading by the commercial banks due to the year end holidays.

Dealers in the call market said that less capital infusion in the system has forced the call rates to higher levels.

UNI