The money market rates depreciated marginally with both the Open Buy Back, OBB, and Overnight rates going down at the close of transactions.
The OBB rate had dropped to 6 percent from 7.58 percent in the previous session, while the overnight rate dropped to 6.60 percent from 8.17 percent in the last session.
The drop recorded by the money market rates was caused by lack of significant funding pressures at the market yesterday.
However, the rates are expected to further trend downwards today in anticipation of inflows from OMO maturities tomorrow as well as retail forex refunds to banks.
