Overnight cash rate was at 8.00/8/10 per cent, after hitting 7.00 per cent, its lowest since July 18, from 8.80/90 per cent previous close. Weighted average rate in the call money market was at 8.31 per cent.
RBI injected 20,000 crore via 7-day term repos earlier in the day after Rs 71,500 crore in 7 and 14-day term repos last week. Month-end government spending to help liquidity, keeping call rates close to 8 per cent, dealers said.
The tom/next dollar/rupee forwards also eased to 1.38/1.40 points from 1.42/1.45 points reflecting the easing of cash conditions.