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Thursday, August 6, 2020

Nigeria’s naira weakens by N0.50k as dollar quotes N386.50k against N386.00k on I&E forex window

Nigeria’s currency weakened by N0.50k on Wednesday as the dollar was quoted at N386.50k as against N386.00k quoted on Tuesday at the Investors and Exporters (I&E) forex window. In the I&E FX market, trade volumes remained very low due to tightened liquidity. Most participants maintained...

FGN Bond Yields Moderate for Most Maturities Tracked on Sustained Demand Pressure…

In the just concluded week, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated further for most maturities tracked amid demand pressure. Notably, the 5-year, 14.50% FGN JUL 2021 paper, the 7-year, 13.53% FGN MAR 2025 note and the 20-year, 16.25% FGN...

NIBOR Rises for Most Maturities on Liquidity Squeeze – SLF hits N1.35 trillion…

In the just concluded week, CBN repayed matured T-bills worth N108.54 billion via OMO. In line with our expectation, there was liquidity strain in the financial system despite the repayment of same amount as the standing lending facilities (SLF) stood at N1.35 trillion, outweighing the standing...

Naira Loses Against USD as CBN Devalues Official Rate to N381/USD…

In the just concluded week, Naira deprecaited against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.13% to close at N386.50/USD even as CBN devalued its official rate to N381/USD from N358.51/USD in line with the market-based autonomous foreign exchange window. Also, NGN/USD...

Naira’s official exchange rate may rise to N430/$ in Q4 – Report

Nigeria's naira official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc, a pan-African investment banking and financial services group, said on Tuesday. According to the firms economic forecast for the second half of the year, titled,...

Non-deliverable forwards see naira lose fifth of its value in 365 days

Non-deliverable forwards see the naira losing a fifth of its value over the next 12 months after the Central Bank of Nigeria, (CBN) devalued the naira at one of its currency auctions, according to people familiar with the matter. Nigeria’s naira eased 5.5% on the...

CBN devalues Naira’s official exchange rate by 5.5% to N381 to US dollar

The Nigerian central bank has devalued its official exchange rate by 5.5% to 381 naira to the dollar from 360 naira, according to data on the website of FMDQ OTC Securities Exchange, the Lagos-based platform that oversees foreign-exchange trading. The bank has not issued a...

FGN Bond Yields Moderate for Most Maturities Tracked amid Sustained Buy Pressure…

In line with our expectations, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated further for most maturities tracked. Specifically, the 7-year, 13.53% FGN MAR 2025 note, the 10-year, 16.29% FGN MAR 2027 debt and the 20-year, 16.25% FGN APR 2037 bond...

Naira Gains Against USD at I&E FXW Despite Dwindling External Reserves…

In the just concluded week, Naira appreciated against the USD at the Investors and Exporters FX Window (I&E FXW) by 0.09% to close at N386.00/USD despite the dwindling external reserves. It fell week-on-week by 0.16% to USD36.16 billion as at Thursday, July 2, 2020. However, NGN/USD...

FGN Bond Yields Fall for All Maturities Tracked amid Buy Pressure…

In line with our expectations, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated for most maturities tracked. Specifically, the 5-year, 14.50% FGN JUL 2021 paper, the 7-year, 13.53% FGN MAR 2025 note, the 10-year, 16.29% FGN MAR 2027 debt and the...
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