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The inter-bank call money rate ended sharply above the RBI’s repo rate of 6.50 per cent as demand was strong owing to banks’ preference to meet much of their reserve needs in the first week of the reporting fortnight itself, dealers said.
Tight liquidity also kept the overnight rate near 7.0 per cent for the entire trading session. The one-day call rate ended at 6.95-7.00 per cent compared with 6.95 per cent at Saturday’s close for two-day loans.
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