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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.
Nigerian Treasury bill yields declined across the short, belly, and long durations as the fixed income market continues to accumulate positions in naira assets.
The overnight lending rate has decreased by 2 basis points as excess liquidity in the financial system continues to ease interbank borrowing pressures.
The average yield on Nigerian government bonds declined in the secondary market as investors increased their bets in the local debt capital market.
Trading activity in the Nigerian Treasury bills (NTB) secondary market was mildly positive…
Interbank funding rates diverge amid surplus liquidity in the financial system, reflecting the absence of significant pressure in the money market.
Financial system liquidity surged by about 72% to N3.10 trillion, supported by N1.46 trillion in inflows from matured OMO bills that were not refinanced by the Apex Bank.