Interbank rates to move lower amid financial liquidity ease

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THERE are expectations that interbank rates would move lower amid financial liquidity ease as treasury bills worth N91.00 billion mature via Open Market Operation (OMO).

Similarly, in the new week, the Debt Management Office (DMO) will auction N150 billion worth of local bonds, viz: N50 billion (a piece) for the 13.98 per cent Federal Government of Nigeria (FGN) February 2028, 12.40 per cent FGN March 2036 and 12.98 per cent FGN March 2050 Re-Openings.

Hence, “we expect the stop rates to moderate – mirroring the drop in the money market rate for 364-day bill – amid anticipated firm demand,” dealers said.

Dealers said they expect activity this week to be dictated by the market…



Source: Nigerian Tribune