November 3, 2015 / 1:17 PM / 2 years ago

U.S. fed funds rate rises to 0.12 pct

NEW YORK, Nov 3 (Reuters) - The U.S. federal funds rate , which banks charge each other to borrow excess reserves, averaged 0.12 percent on Monday from 0.07 percent on Friday, according to Federal Reserve data released on Tuesday.

The average, or effective, fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.06 percent to 0.35 percent on Monday, compared with a range of 0.03 percent to 0.31 percent on Friday. (Reporting by Richard Leong)

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