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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 financial system was flush with cash, strong enough to keep money market rates stable, supported by FAAC
The Federal Government of Nigeria (FGN), through the Debt Management Office ….
The fixed income market recorded a rush for Nigerian treasury bills on Thursday, following the monetary authority’s rejection of 60% of total subscriptions at the main auction on Wednesday.
Money market rates were mixed as financial system liquidity shrank following the Central Bank of Nigeria’s (CBN) aggressive sterilisation of funds.
The market anticipates a bullish run in secondary market transactions for Nigerian Treasury bills on Thursday, a day after the Central Bank of Nigeria (CBN) rejected 60% of the aggregate subscription at its auction.
The Central Bank of Nigeria (CBN) reduced the Treasury bills spot rate by 4 basis points to 17.66%, according to details from primary market auction results obtained by MarketForces Africa.