Call rates edge higher on Tuesday

Interbank call rates, the rates at which banks borrow short-term funds from each other, traded higher at 6.80% from its previous close of 6.27% on Friday on account of good demand from borrowing banks even in first week of reporting cycle amidst tight liquidity in the banking system.

The overnight borrowing rates touched a high and low of 6.90% and 5.00% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.75% on Tuesday and total volume stood at Rs 138597.07 crore, so far.

As per CCIL data, WAR in the TREP (Triparty Repo) market was 6.75% on Tuesday and total volume stood at Rs 363771.75 crore, so far.

The indicative call rates which closed at 6.27% on Friday, were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, IndusInd Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.