Browsing: CBN

Money Market Rates Mixed as Liquidity Drops by 39% Money market rates showed mixed performance as liquidity in the financial…

The naira depreciated against the US dollar on Monday at the Central Bank of Nigeria’s Foreign Exchange Market (NFEM) as FX inflow remained stiff.

Open repo, and overnight lending rates were steadied despite a surge in liquidity level in the financial system last week. The money market closed with excess liquidity of about N6 trillion despite primary market auctions.

The Central Bank of Nigeria (CBN) closed N2 trillion in OMO bills sales with foreign portfolio investors and deposit money banks at the primary market auction on Friday.

Naira Opens Weak, Nigeria’s FX Reserves Signal Uptrend The Nigerian naira opened weak on Monday after a weekly value depreciation…

Naira Slips as Interbank FX Turnover Reduces at Official Window The naira, Nigeria’s local currency, slipped against the US dollar…

The naira regained value at the Nigerian foreign exchange market (NFEM) on Wednesday as improved hard currency liquidity reduced pressures from surging FX demand for international payments and settlements.

The Nigerian financial system liquidity spiked more than 40% following a significant OMO bill repayment by the Apex Bank to eligible investors on Tuesday.

 The Central Bank of Nigeria (CBN) floated a fresh OMO bill for subscription on Tuesday, aiming to raise N600 billion across three tenors.

Deposit money banks (DMBs) placement at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) window dropped by 14% after open market operations.