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U.S. fed funds rate rises to 0.14 pct

Reuters

NEW YORK, July 28 (Reuters) - The U.S. federal funds rate , which banks charge each other to borrow excess reserves, averaged 0.14 percent on Monday, up from 0.13 percent on Friday, according to Federal Reserve data.

The fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.05 percent to 0.3125 percent on Monday, compared with a range of 0.06 percent to 0.3125 percent on Friday, Fed data released on Tuesday showed.

(Reporting by Richard Leong)