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MarketNews
Nigerian OMO bills auctioned by the Central Bank last week attracted N6.1 trillion from investors chasing double-digit returns on naira-denominated assets.
Financial system liquidity was slightly squeezed due to a large outflow related to the settlement of OMO bills sold by the Central Bank of Nigeria (CBN) to banks and foreign investors.
The naira slid by ₦1.30 to ₦1,363.85 at the Nigerian foreign exchange market …
The rand is firmer against crosses, including the dollar (USD), the Euro (EUR) , and the British pound (GBP),
The overnight lending rate dropped slightly as financial system liquidity conditions
The Nigerian naira firmed to ₦1,362.5543 per US dollar at the official window on Tuesday, as forex supply eclipsed international payment requests.
Deposit Money Banks (DMBs), foreign portfolio investors (FPIs) chased Nigerian OMO bills with total subscription of N2.2 trillion, surpassing the offer size.