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 5.14% as compared to 4.75% on Monday, on account of good demand from borrowing banks in first week of reporting cycle amidst tight liquidity in the banking system. The weighted average rate (WAR) in the call money market stood at 5.14% on Wednesday as compared to 5.09% on Monday.
The overnight borrowing rates touched a high and low of 5.20% and 4.55% respectively.
As per CCIL data, WAR in the TREP (Triparty Repo) market was 4.88% on Wednesday and total volume stood at Rs 414490.45 crore, so far.
According to the WAR in the Basket REPO market was at 5.03% on Wednesday and total volume stood at Rs 12135.22 crore, so far.
The indicative call rates which closed at 4.75% 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.
