Saturday, May 8, 2021
HomeGeneral InterestStop Rates Moderate for all Macturites amid Demand Pressure...

Stop Rates Moderate for all Macturites amid Demand Pressure…

In line with our expectation, CBN refinanced N128.10 billion T-bills which matured via the primary market at lower stop rates for all maturities amid demand pressure.

Specifically, stop rates for 91-day, 182-day and 364-day bills rose to 1.10% (from 1.15%), 1.55% (from 1.80%) and 3.05% (from 3.34%) respectively.

Also, additional N265.00 billion worth of T-bills matured via OMO, which less N70.00 billion in OMO auctioned bills, resulted in a total net inflow of N195.00 billion. Hence, given the financial system liquidity boost, NIBOR for 1 month, 3 months and 6 months dropped to 2.48% (from 2.64%), 2.67% (from 3.02%) and 2.93% (from 3.25%) respectively.

However, NIBOR for Overnight funds rose to 15.95% (from 2.94%). Meanwhile, NITTY fell for most maturities tracked in tandem with the stop rates: yields on 1 month, 6 months and 12 months maturities moderated to 1.01% (from 1.15%), 1.37% (from 2.25%) and 2.90% (from 3.12%) respectively.

However, yield on 3 months maturity rose to 1.19% (from 1.15%).

Naija247news, Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
RELATED ARTICLES

More Articles

WP to LinkedIn Auto Publish Powered By : XYZScripts.com