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Market Update
- Liquidity seeped out of the interbank market due to NNPC debit of N34.75b and FX auctions.
- FAAC approved the sum of N559.101 being allocation for December 2011 to be shared by the tiers of government.
- OBB and Overnight rates opened the week at 13.00% and 13.50%, but increased to close the week at 14.00% and 14.50% respectively.
- The treasury bills secondary market was active with yields heading south at the short end.
- The bonds secondary market was active with prices increasing across the maturities traded.
- The naira depreciated against the dollar by 16k to close at 156.85/$ as against 156.69/$ at the last auction.
- The total outflow through FX this week was N70,959.85m.
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N billion
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NTB Floatation - 91 days |
54.88 |
| NTB Floatation - 182 days |
60.00 |
Maturing Bills(PRY) - 91 days |
30.00 |
| Maturing Bills(PRY) - 182 days |
40.00 |
Maturing Bills(OMO)Mon |
0.00 |
| Maturing Bills(OMO)Tues |
0.00 |
Maturing Bills(OMO) Wed |
0.00 |
Maturing Bills(OMO) Thurs |
0.00 |
Maturing Bills(OMO) Fri |
0.00 |
- The interbank market is expected to remain liquid
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| Do not wait; the time will never be "just right." Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along. - Napoleon Hill
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Bohemian |
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