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Our Bureau

Mumbai, Jan 8

The inter-bank call rate closed higher at 8 - 8.10 per cent (7.60-7.80). Market participants expected the pressure on call rates with the Cash Reserve Ratio hike of 0.25 percentage point coming into effect on Saturday. The increase in CRR drained Rs 6,750 crore from the system.

In the first one-day repo auction under LAF, the RBI received and accepted 17 bids for Rs 6,080 crore. In the second one-day reverse-repo auction, the apex bank accepted and received six bids for Rs 170 crore and in the repo auction, it received and accepted 22 bids for Rs 10,045 crore. The CBLO market saw 355 trades aggregating Rs 19,174.05 crore in the 7.14-7.70 per cent range.

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