The Hindu Business Line : Call rates stay low

The interbank call rates closed at 2.25 - 2.50 per cent on Friday as the market continued to be flush with funds. "There were more lenders than borrowers," said a dealer with a private bank. Call rates had closed at 2 - 2.50 per cent on Thursday. Dealers expect the rates to move up to 7.5 - 8 per cent next week as the auction of Government securities is likely to mop up Rs 10,000 crore. In the first three - day reverse repo auction, the RBI received 17 bids for Rs 19,260 crore while it accepted those for Rs 1,998 crore. In the second three - day reverse repo auction, it received nine bids for Rs 5,835 crore while it accepted Rs 1,001 crore. There were no repo bids in the first and second three - day auctions. The Collateralised Borrowing and Lending Obligation market saw 426 trades aggregating to Rs 21,412.25 crore in the 0.10 - 6 per cent range.

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