Call rates ends higher on reporting Friday

Interbank call rates, the rates at which banks borrow short-term funds from each other, were ended higher at 4.11% from its previous close of 4.06% on Thursday, as demand remained on the higher side on the last trading session of the two week reporting cycle, since some banks scrambled last minute to fulfill their fortnightly product requirements.

The overnight borrowing rates touched a high and low of 4.30% and 2.30% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 4.01% on Friday and total volume stood at Rs 137824.22 crore, so far.

As per CCIL data, WAR in the TREP (Triparty Repo) market was 4.05% on Friday total volume stood at 354326.60 crore, so far.

The indicative call rates which closed at 4.06% on Thursday, 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.