Markets

Daily Market Update –December 20, 2012

The Money Market
Despite the Central Bank’s liquidity tightening activities with the flotation of ₦200 billion in OMO Treasury bills, interest rates remained stable as the money market was still awash with liquidity. Rates on the secured OBB and the overnight funds subsequently closed at 10.25% and 10.50% respectively.

Treasury Bills Market

Daily Market Update –December 18, 2012

The Money Market
Market opened today with a short position, as market liquidity declined further, rates therefore opened at 0.25% above the previous day close. However, shortly into trading, Federal Account Allocation Committee (FAAC) funds were credited into the system dropping rates significantly to as low as 10% levels. Hence, the market saw the secured OBB and the overnight funds trading at 10.50% and 10.75% respectively.

Treasury Bills Market

Daily Market Update –December 17, 2012

The Money Market
Market liquidity fell to a two month record low opening today after Fridays WDAS debit. Rates therefore remained stable at previous close with the secured OBB and the overnight funds trading at 14.50% and 14.75% respectively. An improvement in market liquidity is expected this week as we anticipate the credit of FAAC (Federal Account Allocation Committee) funds into the system.

Treasury Bills Market

Daily Market Update –December 14, 2012

The Money Market
Market liquidity declined further today due to the WDAS debit totalling ₦28 billion. As a result, rates went up by about 1.00%. Thereupon, the secured OBB and the overnight funds traded at 14.55% and 14.75% respectively. An improvement in market liquidity is expected next week as the market anticipates the credit of FAAC funds (Federal Account Allocation Committee) into the system.

Treasury Bills Market

Daily Market Update –December 11, 2012

The Money Market
Market liquidity reduced considerably today due to OMO debits and NNPC withdrawals of about ₦160 billion from the system. As a result, rates went up by about 1.50% with the secured OBB and the overnight funds trading at 12.50% and 12.75% respectively. Interest rates are expected to move up by about 1.00% after WDAS debits tomorrow and remain stable through the rest of the week.

Treasury Bills Market

Daily Market Update –December 10, 2012

The Money Market
Market liquidity rose sharply today due to a late cash credit of statutory disbursement (FAAC) totalling ₦199 billion into the system on Friday. As a result, rates came down by about 1.00% regardless of the Open Market Operations (OMO) carried out by the Central Bank today. Consequently, the secured OBB and the overnight funds traded at 11.00% and 11.25% respectively.

Treasury Bills Market

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