Cash rates ease after RBI's open market operations on Friday


26/06/2012 07:44 AST  The Economic Times

India's overnight cash rates fall to 8.05/8.10 percent versus 8.15/8.25 percent last close following cash inflows of Rs 112.88 billion from the RBI's open market operations on Friday.

Traders say cash conditions have also improved as some of the advance tax funds paid out earlier this month by companies come back into the banking system via spending. Banks borrowed Rs 999.30 billion from the central bank at its daily repo auction, slipping below the Rs 1 trillion mark for the first time in five days, suggesting liquidity has began to ease marginally.

Traders expect cash rates to stay between 8.05 to 8.25 percent this week with reduced demand for funds towards the end of the two-week reporting cycle on Friday.

Total volumes on the central bank's electronic trading platform were at Rs 163.85 billion, at a weighted average rate of 8.15 percent. Total volumes on the collateralised borrowing and lending obligations (CBLO) market was at Rs 618.63 billion at a weighted average rate of 7.97 percent.

Global News
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | News Archive

JAN | FEB | MAR | APR | MAY | JUN
Most Viewed News
Most Viewed Companies
Ticker Price Volume
RIBL 24.7 220,469
ALKHODARI 31.2 395,717
EMAAR 5.66 7,755,492
WATANIYA 99.25 509,246
NBAD 12.35 328,558
UCA 36.5 203,884
SAGRINSURANCE 24.2 518,593
Recent News

The Abraaj Group acquires 100% stake in leading African business
The Abraaj Group, a leading investor operating in growth markets, today announced its agreement to acquire a 100% stake in Fan Milk International (“FMI”), West Africa’s market leading manufacturer a

Saudi banking sector - rerating of valuations closer says NCB Capital
"The outlook on Saudi banks remains strong despite the marginal downward revisions in our estimates," reported NCB Capital. "We do not incorporate the recent rise in the yields of the US10Y Treasurie

Dubai is home to the world's most sustainable building
The Change Initiative, a UAE-based sustainability venture, has been awarded the LEED® Platinum certification, which basically means it is the most sustainable building in the world today.

Port of Salalah, APL enter into new era of partnership
Port of Salalah and APL, one of the largest container vessels in the world, entered into a new era of partnership with the arrival of APL Salalah, the container vessel named after the Sultanate of Om

RAM Ratings upgrades MRCB Southern Link's sukuk ratings
RAM Ratings has upgraded the respective long-term ratings of MRCB Southern Link Berhad’s Senior and Junior Sukuk to BBB3 and BB1 (both from C3). Concurrently, the ratings have been put on Rating Watc

Research Reports
Daily Market Review - Saudi Stock Exchange Daily Market Review - Dubai Financial Market Daily Market Review - Abu Dhabi Securities Exchange Daily Market Review - Kuwait Stock Exchange Daily Market Review - Bahrain Stock Exchange more..
GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?