Cut-Off Rate For 14-Day Repos Set At 5.48 Per Cent

Rates in the inter-bank call money market are expected to remain at 6 per cent in the next few days following the new cut-off.

The 91-day treasury bill saw a rise in yield from 6.94 per cent to 7.23 per cent, with most banks bidding at higher levels.

The notified amount was Rs 500 crore, of which competitive bids amounted to Rs 322.33 crore.

The Reserve Bank accepted bids worth 177.33 crore.

The non-competitive bids amounted to Rs 250 crore, and the cut-off price stood at Rs 98.23.

The Reserve Bank saw a devolvement of Rs 62.78 crore, and the primary dealers Rs 9.89 crore.

 

The weighted average price of the paper stood at

Rs 98.26. At the 14-day repos auction, 22 bids for an aggregate sum of Rs 725 crore were received.

One bid quoted at the cut-off rate of 5.48 per cent for an amount of Rs 300 crore was accepted.