Market Update

HIGHLIGHTS for the week ended Friday 20/01/12 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. Week Starting Monday 23/01/12   N billion  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             Outlook for the week starting Monday 23/01/12 The interbank market is expected to remain liquid

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