NIBOR Moderates for Most Tenor Buckets on Sustained Liquidity Boost…


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

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.

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