Call money closes flat at 5.40-5.60 pc

Saturday, March 17, 2007, 11:55 [IST]

Mumbai, Mar 13 (UNI) Call money rates continued to trade soft and closed unchanged at 5.40-5.60 per cent from it last close, traders said.

For the second straight day, the LAF reverse repo numbers topped Rs 30,000 crore which is more than the estimated outflows owing to the advance taxes.

As a result, call rates continued to trade on the lower side despite yesterday's state loan auction and the MSS bond auction to be held later today.

The 1-day reverse repo window saw the RBI receiving 34 bids worth Rs 34,115. However, as per the new LAF regulations, only Rs 3,000 crore was accepted while no bid was received at 1-day repo window.

The CBLO segment saw 433 bids worth Rs 26,010 crore getting traded in the range of 4.15 to 4.92 per cent.

Comfortable money market liquidity is likely to aid call money rates to remain soft, dealers added.

UNI

Topics: BUSINESS-CALL MONEY INTRO

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