Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading lower at 3.08% from its previous close of 3.15% on Monday, as demand eased in the first week of the reporting cycle.
The overnight borrowing rates touched a high and low of 3.40% and 1.90% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 3.27% on Tuesday and total volume stood at Rs 95515.78 crore, so far.
As per CCIL data, WAR in the TREP (Triparty Repo) market was 3.24% on Tuesday total volume stood at Rs 288151.50 crore, so far.
The indicative call rates which closed at 3.15% on Monday, were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A.,Corporation Bank, Credit Agricole Bank, IndusInd Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered, so far.