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Call rates edge higher with start of fresh reporting cycle
Oct-15-2018

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 6.43% from its previous close of 6.42% on Friday as demand edged higher with the start of the reporting fortnight.

The banks via Liquidity Adjustment Facility (LAF)-Fixed Rate Repo Operations borrowed Rs 19722 crore via two days repo window on October 15, 2018, while they borrowed Rs 7128 crore via repo window and parked Rs 38912 crore via reverse repo window on October 12, 2018.

The overnight borrowing rates touched a high and low of 6.65% and 5.00% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.44% on Monday and total volume stood at Rs 73313.97 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 6.50% on Monday total volume stood at 144988.45 crore, so far.

The indicative call rates which closed at 6.42% 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.

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