Call Hovers Around 10.50%

MONEY MARKET REPORT

Interest rate in the inter-bank money market opened in the 10.75-11 per cent region, ruled in the 10.25-11 per cent band and closed at around 10.50 per cent.

There were repo deals struck for the rest of the fortnight at 12.15 per cent.

Money market dealers pointed out that liquidity was plentiful.

The weighted average call money rate of Securities Trading Corporation of India Limited was 10.74 per cent on a turnover of Rs 1,800 crore while the Mibor was 10.72 per cent.

The apex bank did not receive any bids at the four-day nine per cent fixed rate repos given that call rate is ruling around 10 per cent.

 

The central bank has announced a three-day nine per cent repo scheduled for today.

In the treasury bills segment, bills maturing in April were dealt at 14.70 per cent to 15 per cent, while those maturing in February were dealt at 14.5 per cent.

Among other securities, the 12.14 per cent paper maturing in 2000 was dealt in the Rs 100-Rs 100.88 region, the 10.85 per cent 2001 at Rs 96.25, the 13.50 per cent 1998 at Rs 99.55 and the 11.75 per cent 2001 at Rs 99.25.