Call rates high, G-Sec yields drop

The overnight call money rate (the rate at which banks borrow money from each other to overcome short-term liquidity mismatches) closed higher at 8.50 per cent from Thursday’s close of 7.10 per cent. The yield on the benchmark 8.33 per cent, maturing in 2023, sharply dropped to 8.63 per cent from the previous close of 8.71 per cent on Thursday. The price of the security jumped to ₹101.22 from ₹100.76. Bond yields and prices move in opposite directions.