MONEY MARKET REPORT
Call rate in the inter-bank money market opened in the 9-9.25 per cent range yesterday. During the day, interest rate hovered around 9.15-9.20 per cent. It closed lower at around 9-9.10 per cent, while there were some stray deals done between 8.75-8.90 per cent.
The Securities and Trading Corporation of Indias (STCI) weighted average call money rate was 9.06 per cent on a turnover of Rs 1,700 crore. This was marginally lower than the previous days level of 9.10 per cent.
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At the three-day nine per cent fixed rate repos conducted by the Reserve Bank of India (RBI) yesterday bids amounting to Rs 718 crore were received, as compared with Rs 43 crore received day before yesterday.
At the auction of the 14-day and 91-day treasury bills, RBI retained the cut-off yield at 7.32 per cent and 7.35 per cent respectively.In the treasury bills segment, those maturing on April 10 were traded at 12.10 per cent, while bills maturing on April 24 at 12.90 per cent.
In the dated securities market, there was more takers for shorter end maturities. The 13.50 per cent paper maturing in 1998 was traded at Rs 100.08-100.15, the 12.5 per cent security maturing in 2004 at Rs 102.05 and the 14 per cent paper maturing in 2005 at Rs 108.25.