Interbank system liquidity opened in a deficit ca ₦72.26 billion, better than Friday’s opening deficit of ca ₦211.01 billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 15.33% and 16.00% from 16.00% and 17.25% respectively, the previous day.
FINANCIAL MARKETS TODAY – 24 September 2021
FIXED INCOME MARKET Money Markets Interbank system liquidity opened in a deficit ca -₦211.01 billion, […]
FINANCIAL MARKETS TODAY – 23 September 2021
FIXED INCOME MARKET Money Markets Interbank system liquidity improved today, albeit still in a deficit […]
FINANCIAL MARKETS TODAY – 22 September 2021
FIXED INCOME MARKET Money Markets Interbank system liquidity slipped further into a deficit to open […]
NIGERIA RAISES FRESH US$4.0BN THROUGH EUROBONDS – 22 September 2021
The Debt Management Office (DMO) concluded the book-building process for its triple-tranche Eurobonds offer, after […]
FINANCIAL MARKETS TODAY – 21 September 2021
FIXED INCOME MARKET Money Markets Interbank system liquidity waned today, opening with a deficit balance […]
FINANCIAL MARKETS TODAY – 20 September 2021
FIXED INCOME MARKET Money Markets Banking system liquidity opened the first day of the week, […]
CBN maintains Benchmark Rate at 11.50% – 17 September 2021
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its fifth monetary policy meeting of 2021 today, maintaining all key rates. Please see below, a summary of the committee’s decisions.
– Retain MPR at 11.50%
– Retain CRR at 27.50%
– Retain Liquidity ratio at 30%
– Maintain an asymmetric corridor at +100/–700 basis points around the MPR.
Key considerations by the MPC in retaining key policy rates were the nation’s positive growth, recording a Gross Domestic Product (GDP) growth of +5.01% in Q2 2021, and persistent drop in headline inflation at 17.01% in August 2021.
In its effort to keep track of illicit forex trading activities, the CBN governor re-emphasized that the only recognizable FX rate is the I&E FX rate. He also confirmed investigations into AbokiFX, an online platform that tracks the value of the Naira in the parallel market, for alleged Foreign Exchange (FX) speculation and manipulation. This comes after the Naira depreciated against the U.S. Dollar, to its lowest in history, at the parallel market window, trading at ₦570.00/$1.
FINANCIAL MARKETS TODAY – 17 September 2021
The Monetary Policy Committee (MPC) concluded its 2-day meeting today, retaining all key policy rates – The Monetary Policy Rate (MPR), Cash Reserve Ratio (CRR) and Liquidity ratio at 11.50%, 27.50% and 30.00% respectively, while maintaining an asymmetric corridor at +100/–700 basis points around the MPR. Key considerations by the MPC in retaining key policy rates were the nation’s positive growth – recording a Gross Domestic Product (GDP) growth of +5.01% in Q2 2021, and persistent drop in headline inflation at 17.01% in August 2021.
FINANCIAL MARKETS TODAY – 16 September 2021
Interbank system liquidity opened with a deficit of ca ₦102.18 billion today, worse than previous day’s opening balance of ca ₦64.56billion. Thus, the Open Buy Back (OBB) and Overnight (ON) rates trended lower to settle at 7.00% and 7.75% from 13.00% and 13.55% respectively, the previous day.
