FINANCIAL MARKETS TODAY – 13 November 2024
Money Market System liquidity declined further into negative territory. Nonetheless, the Overnight Policy Rate (OPR) declined by 10bps to 31.93%, while the Overnight Rate (O/N) fell by 12bps to 32.48%. Outlook: We expect that interbank rates will remain…
FINANCIAL MARKETS TODAY – 12 November 2024
Money Market System liquidity worsened due to some CRR debits, causing interbank rates to trend upward. Specifically, the Overnight Policy Rate (OPR) increased by 1.60% to 32.03%, while the Overnight Rate (O/N) rose by 1.55% to 32.60%. Outlook: We…
FINANCIAL MARKETS TODAY – 11 November 2024
Money Market System liquidity remained negative but showed signs of improvement due to inflows from Remita and net CRR credits. As a result, funding rates eased; specifically, the Overnight Policy Rate (OPR) fell by 1.52% to 30.43%, while the Overnight…
FINANCIAL MARKETS TODAY – 07 November 2024
Money Market System liquidity stayed negative, though it showed slight improvement. Due to the tight market liquidity, funding rates across banks remained high. Consequently, the Overnight Policy Rate (OPR) increased by 13 bps to 32.03%, while the…
FINANCIAL MARKETS TODAY – 06 November 2024
Money Market Following the OMO auction debit, system liquidity plunged further into negative territory, causing a significant surge in interbank rates. Specifically, the Overnight Policy Rate (OPR) rose by 2.09% to 31.90%, while the Overnight Rate (O/N)…
FINANCIAL MARKETS TODAY – 05 November 2024
Money Market System liquidity opened lower today; however, after the OMO auction, interbank rates closed significantly higher. Specifically, the Overnight Policy Rate (OPR) increased by 10.59% to 29.81%, while the Overnight Rate (O/N) rose by 10.67% to…
FINANCIAL MARKETS TODAY – 04 November 2024
Money Market System liquidity stayed relatively buoyant due to the absence of significant debits. Consequently, the interbank market remained stable. The Overnight Policy Rate (OPR) decreased by 3 bps to 19.22%, whereas the Overnight Rate (O/N) saw a…
FINANCIAL MARKETS TODAY – 31 October 2024
Money Market System liquidity remained positive and improved despite today’s foreign exchange (FX) settlement. As a result, funding rates eased significantly. Specifically, the Overnight Policy Rate (OPR) decreased by 3.71% to 21.14%, while the…
FINANCIAL MARKETS TODAY – 30 October 2024
Money Market The financial system maintained relatively stable liquidity levels, leading to a reduction in funding rates due to the lack of significant funding pressure. Consequently, both the Overnight Policy Rate (OPR) and the Overnight Rate (O/N)…
FINANCIAL MARKETS TODAY – 29 October 2024
Money Market System liquidity remained strong, although it saw a slight decline. This stability was mainly supported by inflows from the maturity of OMO totaling ₦325 billion, which offset the settlement from the CBN’s FX intervention today. Overall,…
