Call rates edge lower on Tuesday

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading lower at 3.20% from its previous close of 3.24% on Monday, as demand eased in the first week of the reporting cycle.

The overnight borrowing rates touched a high and low of 3.40% and 1.90% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 3.25% on Tuesday and total volume stood at Rs 84237.80 crore, so far.

As per CCIL data, WAR in the TREP (Triparty Repo) market was 3.19% on Tuesday total volume stood at Rs 260665.85 crore, so far.

The indicative call rates which closed at 3.24% 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.