Fidelity bank banner Bayelsa State banner
CBN sells treasuries above inflation to attract dollar inflows flows

By News Express on 21/07/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 694

•CBN Governor Godwin Emefiele.
•CBN Governor Godwin Emefiele.

Nigeria’s central bank offered six-and 12-month treasuries at yields higher than the country’s inflation rate on Friday to lure yield-hungry investors and attract dollar inflows, traders said.

Severe dollar shortages have been a hallmark of Nigeria’s recession, now in its second year. The downturn was brought on mainly by lower prices for oil, the government’s largest source of income, mostly paid for in hard currency.

The central bank sold a total of 204.96 billion naira ($650.67 mln) in bills at the auction on Wednesday. It paid 17.39 percent for the six-month bill and 18.54 percent for the one-year paper. The bank’s three-month bill fetched 13.42 percent.

Annual inflation eased to 16.1 percent in June.

Most analysts expect the central bank to keep its key interest rate on hold next Tuesday at 14 percent.

The bank sold 145.96 billion naira of the 12-month bill, 26.60 billion naira of six-month paper and 32.40 billion naira of three-month paper.

Nigeria’s central bank issues treasury bills twice a month to finance the government’s budget deficit, help manage commercial lenders’ liquidity and curb rising inflation. (Reuters)

Source News Express

Posted 21/07/2017 6:13:25 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
FG assures Nigerians of improved electricity supply

Dream Team cheats death, escapes plane crash

Dickson shocks Obasanjo

Sunny, hazy and cloudy weather expected across the...

Tunde Bakare makes strong case for restructuring; reels...

Okowa tasks President-Generals of ethnic nationalities

FOREX: CBN pumps a further $100m into the...

Expect thunderstorms, clouds, sun and haze today —NiMET...

Nigeria’s newest airline cleared for take-off, vows to...

Uduaghan berates vanishing Delta Accountant General

APGA MOVES TO SACK OKOROCHA •Urges court to...

BREAKING NEWS: Judge trying Kaduna journalist dies

 

Latest News Osun Guber Update: Adeleke wins polling unit as vote counting begins THIS AFFLICTION called ONWUEMEODO shall also pass, By Uche Onwuchekwa Buhari’s 10 million imaginary millionaires BREAKING: Security agents swoop on vote buyers as Osun elects new Governor •Card reader rattles Adeleke Cross River community where girls are sold to settle their parents’ debt Battle for Lagos: Ambode turns to God as APC elders seal his fate Osun Guber: Police talk tough, vow to arrest errant politicians Communications Minister, Adebayo Shittu, confirms dodging NYSC Akwa Ibom: Police gives Etim Ekpo, Ukanafun youths 5 days to surrender arms Crisis hits Kaduna PDP; 5 governorship aspirants battle state chairman Skye Bank: Customers storm ATMs in panic withdrawal Osun Guber: We’ll keep tabs on vote buying — EU observers

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (395,673 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,348 views) Shameless Genevieve Nnaji exposes breasts in public (308,015 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,326 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (231,976 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,487 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (199,772 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,421 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,453 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,254 views) Lagos plane crash: Journalist releases victims’ names (157,994 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,768 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,618) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,420) Interview (165) Live Commentary (28) Love Matters (144) News (39,049) Opinion (1,110) Pidgin (11) Politics (6,683) Religion (871) Sports (1,697) Stock Watch (34) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement