CBN Sells N197.6billion of 174-day Bills

The Central Bank of Nigeria,CBN, sold a total sum of NGN197.6bn of 174-day and 321-day bills at discount rates of 18.00% and 18.60% respectively.

Short-term yields inched up by an average of 60bp on the day following the OMO auction announcement by the apex bank.

The sell-off on short-dated maturities was also attributable to profit-taking following the significant rally earlier in the week.

Similarly, FGN bond yields inched higher by 6bp due to profit-taking following panic-buying on Thursday.

Meanwhile, the fixed income market saw yields tick higher across the curve on Friday following the significant rally the day before.

 

 

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