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03 January, 2010 02:08 IST

Call rates decline 11 bps during week ended July 3

Source: IRIS (03 July 2009)

Call rates decline 11 bps during week ended July 3

Overnight call rates declined sharply by 11 basis points for the week ended July 3 on account of excess liquidity in the banking system.

Call rates traded within the range of 1.75-3.30% with weighted average rate (WAR) at 3.16% on July 3 as against the previous week`s (June 26) range of 1-3.40% and WAR closing of 3.27%.

At the beginning of the week on Monday, June 29, overnight call rates declined marginally by 2 basis points within the range of 1-3.35% with weighted average rate (WAR) at 3.25% as against previous close of 3.27%.

Thereafter, on Tuesday, June 30 call rates remained steady within the range of 1.25-3.35% with WAR at 3.25%.

In the mid-week, on Wednesday, July 1 also call rates remained flat with WAR at 3.25%.

Thereafter, on Thursday, July 2 rates slumped within the range of 1.25-3.30% with WAR at 3.23%.

At the end of the week, on Friday, July 3 call rates decreased sharply within the range of 1.75-3.30% with WAR at 3.16%.