Date:24/11/2007 URL: http://www.thehindubusinessline.com/2007/11/24/stories/2007112451400600.htm

Back Call rates end higher

Mumbai, Nov 23

The inter-bank call rates closed higher at 6-6.25 per cent on Friday, against the previous close of 5-5.25 per cent. The call rates, however, fell to an intra-day low of 4-4.10 per cent. “There seems to have been some government spending and product unwinding by banks at the end of fortnight, this could have forced banks to lend at lower rates,” said a dealer with a private bank. In the first one-day reverse repo auction under Liquidity Adjustment Facility, the RBI received and accepted nine bids for Rs 8,710 crore. There was no repo bid. The CBLO market saw 491 trades aggregating Rs 25,379.60 crore in the 2.27-6.25 per cent range. —

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