NEW YORK: The US federal funds rate , which banks charge each other to borrow each other's excess reserves, averaged 0.13 percent on Monday, matching Friday's level, 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 0.06 percent to 0.3125 percent, compared with Friday's 0.02 percent to 0.3400 percent range.

Copyright Reuters, 2015