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MarketNews
With expectations of robust demand over the one-year tenor, the Central Bank of Nigeria
The naira lost N26 on each US dollar to settle at N1,501.61 in the foreign exchange (FX) market due to demand pressures. The market US dollar liquidity shortfall extended throughout the previous, which triggered Central Bank (CBN) intervention in the official window.
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Equities investors saw more than N305 billion gain as Ticker: ACADEMY, CADBURY, and ETERNA among othes rallied on Friday due to improved investors’ appetite. The Nigerian Exchange (NGX) closed the week on a positive note, as key performance indicators climbed by 0.48% on Friday.
The short-term benchmark interest rates trended higher in the money market as banks faced liquidity constraints that kept funding rates elevated on the back of the settlement for the Nigerian Treasury bills (NTB) auction.