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Call rates edge higher on Friday

The overnight borrowing rates touched a high and low of 5.60% and 5.60% respectively

Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading higher at 5.60% as compared to 5.50% on Thursday as demand remained on the higher side at the end of first week of the reporting fortnight. The weighted average rate (WAR) in the call money market stood at 5.60% on Friday as compared to 5.38% on Thursday. 

The overnight borrowing rates touched a high and low of 5.60% and 5.60% respectively. 

As per CCIL data, WAR in the TREP (Triparty Repo) market was 5.29% on Friday and total volume stood at Rs 25302.35 crore, so far.   

According to the WAR in the Basket REPO market was at 5.40% on Friday and total volume stood at Rs 4784.31 crore, so far.  

The indicative call rates which closed at 5.50% on Thursday, were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, IndusInd Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.