The call rate ended around 11 per cent today, much lower from the last week’s 13-15 per cent band as inflows by way of government expenditure were witnessed and demand eased, dealers said.
The overnight rate had touched a low of 10.25 per cent on NDS-OM intraday today. It closed at a weighted average rate of 11.32 per cent today compared with 15.30 per cent Friday.
Today, the one-day call rate ended at 11.00-11.50 per cent compared with Saturday’s close of 8.50-9.00 per cent for two-day loans. CBLOs ended at a weighted average rate of 9.34 per cent compared with 6.84 per cent on Saturday.
“We have witnessed some government spending inflows today. I think the call rate will be around 10 per cent this week,” said a dealer of a state-owned bank. A decline in demand for funds, as most banks have met reserve requirements last week itself, also brought the overnight rate down today.
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