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Call money market up

The overnight interest rates closed higher at 9.10-9.20 per cent, as liquidity tightening continued in the Interbank call money market Wednesday.

Opening slightly higher at 9.10-9.20 per cent, the rates touched the high and low of 9.35 per cent and 8.90 per cent respectively, before closing at 9.10-9.20 per cent as against the 9.00-9.10 per cent of the previous day.

Dealers said the heavy covering by borrowers ahead of Christmas and weekend holidays caused some liquidity tightening in the market. However, most of the deals were conducted around 9.10 per cent.

The added that the Reserve Bank of India has not received any application for the 3-day repos held today.

The Discount Finance House of India extended a market support of Rs 22 billion.

The National Stock Exchange quoted the Mibid and Mibor rates for different categories as follows:

                  Mibid (pc)          Mibor (pc)


Overnight          9.06                9.17
14-day             8.98                9.52
1-month            9.41               10.18
3-month          10.44               11.21

UNI ` Business news