Interbank call rates were trading lower at 8.30/8.35% versus its close of 8.40/8.45% on Friday as demand ebbed in the second half of reporting cycle. The rates were however higher than repo rate as select banks scrambled to fulfill their product requirements in order to avoid the volatility of rates going further.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 18424 crore through repo auction on June 9. Meanwhile, banks borrowed Rs 2485 crore via repo auction and parked Rs 893 crore via reverse repo window on June 6, 2014.
The overnight borrowing rates touched a high and low of 8.40% and 7.85% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 8.11% on Monday and total volume stood at Rs 32673.20 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 8.18% on Monday and total volume stood at Rs 32551.50 crore, so far.
The indicative call rates which closed 8.40/8.45% 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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