Call rates end at 5.25-7.5%
Call rates end at 5.25-7.5% Overnight call rates stood at 5.25-7.5% on Sep. 27, 2007, compared with 5.25-7% on the previous working day, i.e September 26. Weighted average rate (WAR) stood at 6.35% on September 27 as against 6.15% on previous working day.The total turnover of the call market, however, decreased to Rs 140.98 billion on September 27, from Rs 155.77 billion on the previous working day. According to the Reserve Bank of India`s (RBI) report on money market operations released on September 28, the turnover of term money was Rs 1.75 billion on Sep. 27, 2007, against Rs 4.2 billion on the previous working day. The interest rate stood at 8 -9.35% on Sep. 27, 2007, against 7.4-9.25% on Sep. 26, 2007. The turnover of notice money stood at Rs 1.77 b illion on Sep. 27, 2007 against Rs 0.18 billion on the previous working day. The WAR stood at 5.72% on September 27, against 6.11% on the previous working day. Further, 1-day CBLO (collaterized borrowing and lending obligation) operations fetched Rs 353.08 billion at 6.41% on September 27. The interest rate range was between 5.86-6.55% on the same day. On the previous working day, i.e. on September 26, 1-day CBLO operations fetched Rs 263.80 billion at 6.05% WAR. On the other hand, the transactions of 1-day market repos injected Rs 187.18 billion, compared with Rs 153.22 billion, of 1-day market repos on the previous working day. The WAR stood at 6.38% on September 27, against 6.14% on previous working day. The amount outstanding under s tanding liquidity adjustment facility available with the RBI was Rs 0.91 billion at 7.75%, on September 27. As on Sep. 25, 2007 the cumulative cash balances of the scheduled commercial banks with RBI stood at Rs 23,539.16 billion for the fortnight ending Sep. 28, 2007.
