Kathmandu, December 29:

Nepal Rastra Bank (NRB), the regulatory authority of monetray market, said today that there was no cash crunch in the market.

“There is enough liquidity in the market,” it said. “The banks have bid Rs 9,087 million, almost twice the Treasury Bill (TB) of Rs 4,085 million floated by NRB.” The central bank floated Rs 4,085 million Treasury Bills and the bid was 1.89 times more, indicating that there was no cash crunch in the market.

The inter-banking rate for this week has been fixed at 2.52 per cent — it had once gone up to seven per cent.

The new rate is only 0.94 per cent more than that last week. NRB is also issuing a reverse repo of Rs 2000 million.