Markets

Daily Market Update –April 18, 2013

The Money Market
OMO bills maturity of ₦216 billion ensured that the money market remained liquid despite the OMO auction carried out today. Interest rates traded flat at 10.25% for the secured OBB and overnight funds. An increase in rates is expected tomorrow as PDMM’s and authorised dealers fund for FGN Bond auction settlement of ₦104.8 billion and FX purchases of ₦41 billion respectively.

Treasury Bills Market

Daily Market Update –April 17, 2013

The Money Market
Interest rates opened at 12% levels upon the ₦200 billion OMO announcement, however, during market, statutory funds estimated at ₦245 billion hit the system and rates dropped to sub 11% levels reflecting the sharp improvement in market liquidity.

There are indications that the CBN will continue OMO sessions in a bid to mop up excess liquidity. Interest rates are expected to remain around 11%.

Treasury Bills Market

Daily Market Update –April 16, 2013

The Money Market
Interest rates remained relatively stable as market activity was minimal (no major withdrawals or credits took place). Hence the secured OBB and overnight funds traded at 12% and 12.25% respectively. Interest rates are expected to trend southwards in anticipation of statutory funds and Treasury bills maturities into the system.

Daily Market Update –April 15, 2013

(Photo L-R: The wife of former British Prime Minister, Mrs. Cherie Tony Blair; Head, Corporate Division, NSE, Mr. Bola Adeeko; Founder and Chief Executive Officer, Henshaw, Barbara James and Head, Corporate Communication, NSE, Mr. Dante Martins at the courtesy visit of the former British Prime Minister’s wife to The Exchange today.)

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