Call rates ends lower on Tuesday

Interbank call rates, the rates at which banks borrow short-term funds from each other, were ended lower at 3.66% from its previous close of 3.99% on Monday, as demand eased in the first week of the reporting cycle.

The overnight borrowing rates touched a high and low of 4.00% and 2.20% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 3.88% on Tuesday and total volume stood at Rs 108182.70 crore, so far.

As per CCIL data, WAR in the TREP (Triparty Repo) market was 3.91% on Tuesday total volume stood at Rs 392371.25 crore, so far.

The indicative call rates which closed at 3.99% on Monday, 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.