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MarketNews
South African Rand (ZAR) weakened against trading pairs in the forex market on Thursday as global commodity prices fell amid a stronger US dollar.
The naira depreciated strongly against the US dollar in the Nigerian foreign exchange market (NFEM) on Wednesday as pressure on the local currency deepened.
The Central Bank of Nigeria (CBN) repriced the 364-day Treasury bill rate at the midweek auction to 15.89%, with total subscriptions exceeding N1 trillion.
The money market closed with a significant credit balance, which kept interbank rates…
Debt Management Office (DMO) has raised N7.6 trillion via Federal Government of Nigeria
Driven by a slide in the overnight lending rate, funding costs in the money market…
Excess liquidity in the money market kept funding costs stable at around 22%, reflecting the absence of significant pressure from the Central Bank’s operations.
The average yield on Nigerian Treasury bills fell slightly as investors increased bets on the naira asset in the secondary market following a disinflation-driven boost to real returns.
Interbank rates remained largely unchanged as the money market remained flooded with excess liquidity of about N5 trillion on Tuesday…