Overnight rates dip as government spends boost bank liquidity
Mumbai: Overnight money market rates fell on Monday on improvement in the banking system liquidity surplus, led by month-end spending by the government, bank treasury dealers said. The weighted average call rate (WACR), which acts as the operative rate for monetary policy transmission, closed at 5.35% compared to previous close of 5.39%, while TREPS (tri-party … Read more
