The Inter-bank call money rates were at 7.55/60% almost steady compared to its previous close of 7.50 /60% on strong demand at the first day of second week of the reporting fortnight. The call rates are well above the repo level since tax outflows have caused cash crunch leading banks to borrow more in order to cover their mandated requirements. The call rates closed at 7.50/60 in an illiquid market on Saturday.
Banks via Liquidity Adjustment Facility (LAF) borrowed Rs 87,095 crore through repo window on March 16, 2011. While banks via Second Liquidity Adjustment Facility (LAF) borrowed Rs 53,375 crore through repo window and parked Rs 300 crore via reverse repo window on the same day.
The overnight borrowing rates has touched a high of 7.75% and a low of 7.55%, so far.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 6.99% on Friday and total volume stood at Rs 1631 crore on the same day.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 2.84% on Friday and total volume stood at Rs 6395 crore on the same day.
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