Mumbai, Jan 19 (UNI) Interbank call money rates fell further and closed the day at 7.70-7.90 per cent as against their previous close of 7.90-8.00 per cent, dealers said.
The reporting Friday was expected to put some pressure on the call rates as a few banks, falling short of their mandatory requirements, were likely to borrow in excess.
However, the prevalent supply was able to serve their demand comfortably as a result of which the inter bank rates continued to trade soft.
At the LAF window, the RBI accepted 7 bids worth Rs 265 crore at the 3-day reverse-repo auction while 26 bids amounting to Rs 12,075 crore were received at its 3-day repo auction.
The CBLO segment saw 352 bids worth Rs 18,986 crore getting transacted in the range of 6.50-7.75 per cent.
With a few state run banks reported to have bought dollars, the systemic liquidity is expected to improve gradually. However, the new fortnight and the subsequent fresh borrowing requirements is likely to test the inter bank rates which is likely to harden marginally, dealers added.