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Brent price declined by 0.5% to US$80.78 per barrel as US crude inventories rose. Also, West Texas Intermediate crude fell 0.5% to US$76.25 at last look early Thursday.
The International Monetary Fund (IMF) and Kenya have reached a staff-level agreement on economic policies following the sixth review of extended credit fund facilities’ arrangement to unlock more funds for the government.
The Nigerian bonds benchmark yield hit about 15.8% as local investors offloaded their portfolio in reaction to accelerating consumer inflation in the country.
Money market rates spiked as liquidity in the financial system dropped significantly amidst accelerating inflation conditions in Nigeria.
The naira rallied midweek as invisible hands put a touch on exchange rates across the markets. Both official and parallel market rates appreciated against the dominant US dollar in the Nigerian economy.
Union Bank of Nigeria (UBN) has inched closer to becoming a private company …
The equities segment of the Nigerian Exchange (NGX) gained more than N93 billion on Wednesday amidst increased bargain hunting on stocks with strong fundamentals and liquidity.
Prices of crude oil increased on Wednesday following a positive demand forecast by the International Energy Agency (IEA).
The average yield on Nigerian government fixed interest securities instruments slid over renewed interest by local investors. Buying interest in the secondary market dragged the average yield lower by 1bp to 15.8% in the OMO segment.
The average yield on Nigerian government bonds climbed to 15.74% on Tuesday amidst high inflation rate expectations. The secondary market witnessed selloffs across tenors with investors showing particular interest in very long-dated borrowing instruments.