Rbi Mop-Up Keeps Call Firm

MONEY MARKET REPORT

Interest rates in the inter-bank money market opened in the region of 6.25 per cent - 6.50 per cent yesterday.

The call rate later peaked to 6.65 per cent and touched a low of 6 per cent.

There was inflows of Rs 3,795 crore on account of reversal of repos. At the 4-day 5 per cent fixed rate repo yesterday the Reserve Bank of India (RBI) mopped up Rs 2,824 crore. The weighted average rate of Securities Trading Corporation of India (STCI) was 6.35 per cent on a turnover of Rs 2,300 crore.

The other reference rate i.e. NSE - Mibid was 6.24 per cent and the standard deviation was 0.0278 while the NSE - Mibor was 6.53 per cent and the standard deviation 0.0441.

 

Among the treasury bills the one maturing on 15 August was dealt at 7.25 per cent. As part of its open market operations, the RBI is selling the 11.55 per cent 2001 at Rs 100.07 while the market is quoting this paper in the band of Rs 100.035 - Rs 100.07.

Market estimates suggest that the Reserve Bank would have sold around Rs 100-crore worth of 11.55 per cent 2001.

Yesterday it was this security that was actively traded. Among other securities the 12 per cent 1999 was dealt at Rs 101.28.