Nigerian interbank rates ease on liquidity glut
Nigerian interbank
rates dropped further to 1.15 per cent on average from 1.41 per cent
last week as the full impact of monthly budgetary disburses to
government agencies hit the monetary system, traders said.
Over ₦270 billion in budgetary allocations to state and local governments was released last Thursday.
The secured Open
Buy Back (OBB) was flat at 1.10 per cent, 10 basis points above the
Standing Deposit Facility (SDF) rate and 4.90 percentage points below
the central bank’s benchmark rate.
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