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Mumbai, July 3

The inter-bank call rates dipped to close at 1-1.25 per cent on Tuesday against the previous close of 6-6.25 per cent. “The central bank’s intervention in the forex market to cap the appreciation of rupee has left the system with surplus cash attributing to the comfortable liquidity in the system,” said a dealer with a private bank. The Reserve Bank of India received bids worth Rs 80,500 crore through the reverse repo auction under the two sessions of Liquidity Adjustment Facility while it mopped up bids worth Rs 2,995 crore. RBI did not receive any bids through the repo window. In the first one-day reverse repo auction, the central bank received 29 bids for Rs 40,995 crore while it accepted Rs 1,998 crore. In the second one-day reverse repo auction, RBI received 37 bids for Rs 39,505 crore while it accepted bids to the tune of Rs 997 crore. There were no repo bids in the first and second one-day auctions. The CBLO market saw 339 trades aggregating Rs 25,704.80 crore in the 0.01-8 per cent range. —

Our Bureau

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