Call rates edge higher on Wednesday

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 6.39% from its previous close of 6.37% on Tuesday, as demand remained on the higher side in the second week of reporting cycle.

The overnight borrowing rates touched a high and low of 6.55% and 5.15% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 6.39% on Wednesday and total volume stood at Rs 165016.72 crore, so far.

As per CCIL data, WAR in the TREP (Triparty Repo) market was 6.30% on Wednesday and total volume stood at Rs 302998.10 crore, so far.

The indicative call rates which closed at 6.37% on Tuesday, 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.