Overnight call rates remained within the range of 8.50-10.05% on Monday, October 13. Weighted Average Rate (WAR) stood at 9.92% on October 13, as compared to 9.39% on the previous working day i.e. October 11. The total turnover of the call market increased sharply to Rs 187,989.5 million from the previous day`s Rs 23,106.6 million.
The amount outstanding under the standing liquidity adjustment facility available with the RBI was Rs 50,659.4 million at 9% on October 13. The cumulative cash balance of the scheduled commercial banks with RBI stood at Rs 46,786.08 billion as on October 10.
Money Market Operations on October 13, 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) |
4,73,244.3 |
9.38 |
8.50-10.05 |
|
I. Call Money |
1,87,989.5 |
9.92 |
8.50-10.05 |
|
II. CBLO |
1,90,273.5 |
8.97 |
8.85-9.25 |
|
III. Market Repo |
94,981.3 |
9.13 |
8.95-9.50 |
|
B. |
Notice and Term Money Segment |
|
|
|
|
I. Notice Money |
1,669.4 |
9.65 |
8.50-9.85 |
|
II. Term Money |
1,000 |
- |
11.55-13.60 |
According to the Reserve Bank of India`s (RBI) report on money market operations released on October 14, term money transactions stood at Rs 1,000 million within the range of 11.55-13.60%. Whereas, notice money operations stood at Rs 1,669.4 million with WAR at 9.65% within the range of 8.50-9.85% on October 13.
Further, the 1-day collaterized borrowing and lending obligation (CBLO) operations on October 13 stood at Rs 190,273.5 million with WAR at 8.97% within the range of 8.85-9.25%. On the same day, transactions of 1-day market repos fetched Rs 94,981.3 million, with WAR at 9.13%, within the interest range of 8.95-9.50%. |
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