Overnight call rates increased within the range of 7.75-9.50% on Saturday, August 16. Weighted average - rate (WAR) stood at 9.39% on August 16, as compared to 8.68% on the previous working day i.e. August 14.
The total turnover of the call market increased to Rs 201.2 million from the previous day`s Rs 79.3 million.
The amount outstanding under the standing liquidity adjustment facility available with the RBI was Rs 48.10 billion at 9% on August 16. The cumulative cash balance of the scheduled commercial banks with RBI stood at Rs 37,907.30 billion as on August 13.
Money Market Operations on August 16, 2008
(Amounts in Rupees million, Rate & Range in Per cent)
|
MONEY MARKETS |
Volume
(One Leg) |
Weighted
Average Rate |
Range |
|
A. |
Overnight Segment (I+II+III) |
4,74.7 |
9.15 |
7.75-9.50 |
|
I. Call Money |
201.2 |
9.39 |
7.75-9.50 |
|
II. CBLO @ |
272.7 |
8.98 |
8.51-9.18 |
|
III. Market Repo |
73.7 |
8.56 |
8.25-8.60 |
|
B. |
Notice and Term Money Segment |
|
|
|
|
I. Notice Money |
21 |
9.40 |
8.50–9.45 |
|
II. Term Money |
- |
- |
- |
According to the Reserve Bank of India`s (RBI) report on money market operations released on Aug. 18, term money transactions remained suspended and notice money operations stood at Rs 21 million with WAR at 9.40% within the interest range of 8.50–9.45% on the previous working day, i.e. August 16.
Further, the 1-day collaterized borrowing and lending obligation (CBLO) operations on Aug. 16 stood at Rs 272.7 million with WAR at 8.98% within the range of 8.51-9.18%. On the same day, transactions of 1-day market repos fetched Rs 73.7 million, with WAR at 8.56%, within the interest range of 8.25-8.60%.
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