Call Rates Close Higher - Sep 23, 2008

Call rates closed significantly higher at 14.0-14.5 per cent, against the previous close of 11.5-12.5 per cent. The rates touched an intra-day high of 15-15.5 per cent signalling tight liquidity in the market. The Reserve Bank of India has put in around Rs 79,000 crore into the system through the repo auction. In the one-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted 49 bids worth Rs 63,595 crore. There were no reverse repo bids. In the one-day repo auction under the second LAF, the RBI received and accepted 18 bids for Rs 15,265 crore. There were no reverse bids in this auction also. In the CBLO market, there were 408 trades amounting to Rs 17,051.65 crore in the rate range of 8.05-10 per cent