Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Financial market update

    Financial market update

    January 23, 2012
    Share
    Facebook Twitter LinkedIn WhatsApp

    23 January 2012, Sweetcrude, Lagos – Local and international financial market update.
    WORLD BANK : The World Bank has sounded a note of warning to developing countries to prepare for further downside risks, as Euro Area debt problems and weakening growth in several big emerging economies are dimming global growth prospects. The Bretton Woods institution, in its newly-released Global Economic Prospects (GEP) 2012, said lowered its growth forecast for 2012 to 5.4% for developing countries and 1.4% for high-income countries, down from its June estimates of 6.2 and 2.7 per cent (1.8 per cent for the Euro Area), respectively.

    INDIA: Indian rupee strengthened on speculation international investors will quicken purchases of the nations assets as inflation slows. Foreign funds boosted holding of Indian debt by $3.2 bn this month to $29.3bn as of Jan 19 and investment in stock rose by $1.2 bn. Inflation slowed to 7.47% in Dec from 9.11% the previous month.

    CHINA: As China celebrates the new year, the dawning of the Year of the Dragon, Moody’s says they could be in heading for a soft landing. All thanks to the work of the regulators to slow non bank financing from 45% in 2010 to 25% in 2011.

    Bonds – The market continues to trade relatively stable on Friday, continued demand feeding into the short end of the curve. First bond auction for the year comes up next Wednesday and this will help stimulate the long end of the curve which has been very quiet in the last few trading days.

    Bills – Some profit taking today after rates have been knocked down over the week. The FAAC funds are expected in early next week which ordinarily should put some downward pressure on rates but the CBN will likely come in to offer OMO bills to mop up the excess liquidity which will push rates up. A lot of volatility expected.

    Money Market – OBB & unsecured rates are stable at 14.00% & 14.50% FAAC flows are expected in early next week after being approved earlier in the week. ”

    FX
                                  Hi                Low                Close              Prev/Close
    USD/NGN       161.30/40    160.30/40    160.85/95     161.42/52

    NIBOR(%)                           LIBOR (%)

    O/N               14.4167          USD 1 month              14.4167

    7 Day             14.7500         USD 2 month             14.7500

    30 Day           15.2917          USD 3 month             15.2917

    60 Day           15.6667          USD 6 month            15.6667

    90 Day           15.9167          USD 12 month           15.9167

    Y/Y Consumer Inflation December 2011 :               10.30%

    FX Reserves: 16 January 2012                    (USD bn) 33.72

    MPR                                                                                 12.00%

    Source: FMD and CBN

     

    Related News

    OPEC Fund commits $1bn in new financing for developing nations

    Nigeria stocks record 12.15% return year-to-date

    NGX Group, SEC pursue capital market diplomacy to deepen Nigeria-China financial ties

    E-book
    Resilience Exhibition

    Latest News

    TotalEnergies, QatarEnergy granted new exploration license for Algeria

    June 18, 2025

    OPEC Fund commits $1bn in new financing for developing nations

    June 18, 2025

    ‘Nigeria to export first gasoline cargo to Asia from Dangote Refinery’

    June 18, 2025

    Africa’s nuclear renaissance: World Bank greenlight ignites a new era

    June 18, 2025

    AfDB project restores electricity in Zimbabwean communities

    June 18, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.