By Dipo Olowookere
The money market rates were relatively calm on Tuesday as system liquidity remained buoyant at N244 billion positive.
Business Post reports that the average money market rates depreciated by 0.46 percent following the 0.33 percent and 0.58 percent decline in the Open Buy Back (OBB) and Overnight (OVN) rates respectively.
The OBB rate dropped to 9.17 percent from 9.50 percent yesterday, while the OVN rate fell eased to 10.00 percent from 10.58 percent.
With no significant outflows expected at the market today, the rates are expected to remain stable.
Meanwhile, the treasury bills market remained scantily traded, with yields compressing marginally by 0.05 percent on average.
However, some profit takings were observed on the longer end of the curve in anticipation of another OMO auction on Thursday.
More profit takings activities are expected at the market as well as slight selloff as market players reposition ahead of the OMO auction expected by the Central Bank of Nigeria (CBN) on Thursday.
more recommended stories
SEC Modifies Processes of Listing on Nigerian Stock Exchange
By Modupe Gbadeyanka In order to.
Forte Oil to Pay Interim Dividend of N1.15k June 10
By Dipo Olowookere The board of.
NSE Releases Effective Dates of Five New Rules
By Dipo Olowookere The Nigerian Stock.
Wari Takes Financial Services Closer to Customers on WhatsApp
In order to make its customers.
Second 30-Year Bond Sale Records 336% Subscription
By Dipo Olowookere At the May.
FBNQuest Complies With GIPS to Boost Investor Confidence
A subsidiary of FBNQuest Merchant Bank.
Stock Market Gains N408bn as MTN Nigeria Listing Frenzy Persists
By Dipo Olowookere Transactions on the.
Facebook NG_Hub Trains 50,800 SMBs in Digital Skills
By Modupe Gbadeyanka Not less than.