Call Rate Closes Lower - Sep 18, 2008

The inter-bank call rate ended lower at 10.10-10.20 per cent, against the previous close of 11-11.50 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), the RBI got and accepted 24 bids worth Rs 29,815 crore. There were no reverse repo bids. The Reserve Bank had declared on Sept 16 that it will conduct a second LAF daily to ease the liquidity conditions in the market till further notice. In the one-day repo auction under the se cond LAF, the RBI received and accepted 36 bids for Rs 29,665 crore. In the CBLO market, there were 342 trades totaling to Rs 16,206.55 crore in the rate range of 8.87-10 per cent.