CBN Auctions N35b 181-Day Bills at 17.84% Stop Rate

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) on Friday auctioned N35 billion worth of 181-day bills at the open market operations (OMO).

It was gathered that the bills were sold by the apex bank at the open market at the stop rate of 17.84 percent.

At the close of business yesterday, the money market rates closed mixed with the 3-month rates falling by 18 basis points and 48 basis points to 21.60 percent and 23.02 percent respectively.

However, it was observed that the one-month NIBOR rate increased by 10 basis points to 21.24 percent.

Meanwhile, yield movement was mixed in the bond market yesterday as investors were bullish at the short end of the curve as investors embarked on some profit taking on Thursday’s gains on long dated maturities.

Yield on the 5-year benchmark bond fell by 35 basis points to 14.76 percent, while the yield on the 10-year benchmark bond inched up 3 basis points to 14.88 percent.

Yield on the 7-year benchmark bond was unchanged at 14.96 percent.

Information from Investment One was used in this story.