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
Oil Sustains Steady Gains as Demand Rises
By Adedapo Adesanya Oil futures finished.
Veritas Kapital Assurance Offers Motor Policy Discounts
By Adedapo Adesanya Insurance company, Veritas.
Again, LIRS Shifts Annual Returns Filing Deadline to June 30
By Modupe Gbadeyanka The deadline for.
Tribunal to Hear Urgent Capital Market Disputes from May 27
By Modupe Gbadeyanka Acting Chairman of.
Nigeria’s Investment Inflows Rise 54% to $5.9bn in Q1 2020
By Adedapo Adesanya The total value.
Nigeria’s Economy to Feel COVID-19 Impact in Q2—NECA
By Modupe Gbadeyanka The real impact.
Oil Prices Rise Amidst Fears of Escalating US-China Spat
By Adedapo Adesanya Oil prices rose.
COVID-19: Onyema Highlights Resilience of Nigeria’s Capital Market
By Tenebe Anthonia As corporations all.