Call money rate moves up further

The inter-bank call money rate moved up further Wednesday ahead of the Eid-ul-Fitr festival, treasury officials said. The call rate ranged between 3.00 per cent and 7.25 per cent on the day against the range of 2.00 per cent and 5.00 per cent of the previous day. However, most of the deals were settled at rates varying between 4.00 per cent and 4.50 per cent, the market operators said. "The call money rate may become stable in the upcoming days due mainly to injection of fresh funds in the market by the central bank," a senior treasury official told the FE. — FE Report