Fed funds rate stays at 0.13 percent

[April 21, 2015]  NEW YORK (Reuters) - The U.S. federal funds rate, which banks charge each other to borrow their excess reserves, averaged 0.13 percent on Monday for a sixth straight day, Fed data released early Tuesday showed.

The fed funds rate, which the Federal Reserve targets to achieve its rate objective, traded in a range of 0.05 percent to 0.3125 percent, matching the range set in the previous seven sessions.

(Reporting by Richard Leong)

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