NIBOR Moderates for Overnight Tenor Bucket on Excess Liquidity…

Date:

In the just concluded week, CBN auctioned OMO bills worth N128.19 billion to partly mop up the
matured OMO bills worth N327.56 billion.

Thank you for reading this post, don't forget to subscribe!

Hence, given the net inflows of N199.37 billion, NIBOR
moderated for overnight tenor bucket, to 7.00% (from 13.08%). However, NIBOR for 1 month, 3
months and 6 months tenor buckets increased, to 10.98% (from 9.72%), 9.94% (from 9.58%) and
10.14% (from 9.19%) respectively.

Elsewhere, as investors continued to scramble for higher rates
in the secondary markets, NITTY moved in mixed directions across maturities tracked.

While yields on 1 month and 6 months maturities rose to 3.03% (from 3.00%) and 3.79% (from 3.72% ) respectively, yields on 3 months and 12 months maturities declined to 3.21% (from 3.23%) and 4.78% (from 5.17%) respectively

he new week, T-bills worth N595.27 billion will mature via the primary and secondary markets which will offset T-bills worth N154.38 billion to be auctioned by CBN via the primary market; viz: 91-day bills worth N4.38 billion, 182-day bills worth N10.00 billion and 364-day bills worth N140.00 billion.

Hence, we expect the stop rates to decline marginally amid increasing demand for the instruments.

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

“FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison for Fraud”

FTX founder Sam Bankman-Fried received a 25-year prison sentence...

Nigeria’s Access Holding eyes $1.5 bln share or bond sale

ABUJA, March 28 - Nigeria's Access Holding Plc (ACCESSCORP.LG),...

“AfDB Invests $75 Million in Indorama for Fertilizer Expansion”

The African Development Bank has inked a $75 million...

“Zack Orji survived two brain surgeries” – Emeka Rollas gives update

March 28, 2024. Azonuchechi Chukwu. The national president of the Actors...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading