NIBOR Moderates for Most Tenor Buckets on Sustained Liquidity Boost…

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In the just concluded week, activities in the money market was silent as there were zero OMO repayment and auction.

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Amid the rare occurrence, NIBOR moderated for most tenor buckets: NIBOR for 1 month, 3 months and 6 months tenor buckets fell to 5.68% (from 6.94%), 6.04% (from 7.02%) and 6.65% (from 7.54%) respectively.

However, overnight funds rose to 12.06% (from 3.56%).

Meanwhile, NITTY moved in mixed directions across maturities tracked: yields on 1 month and 6 months maturities rose marginally to 2.05% (from 1.94%) and 2.59% (from 2.55%) respectively.

On the flip side, NITTY for 3 months and 12 months maturities declined marginally to 2.13% (from 2.14%) and 3.49% (from 3.53%) respectively.

In the new week, we expect stability of the Naira against the USD, especially at the I&E FX Window amid rising crude oil prices.

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.

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