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 27, 2012
    Share
    Facebook Twitter LinkedIn WhatsApp

    27 January 2012, Sweetcrude, Lagos – Local and financial market update.
    EUROPE : Opposition to payouts on Greek credit default swaps from European policy markets is softening as disputes over a voluntary debt exchange threaten to push the nation into default. It is estimated that any agreement between the Greek government and the Washington Based Institute of International Finance on debt write downs will only bind 50% of investors in EUR206bn of notes being negotiated. Hedge funds may resist a deal seeking to get paid in full or compensated from insurance contracts.

    INDIA: Indian Rupee climbed to an 11 week high after the central bank eased monetary policy for the first time since 2009 to support economic growth prompting investors to books holdings of local stocks and bonds.

    CHINA: China’s property prices need to decline 30% to reach a reasonable level according to He Keng, a deputy director of the Financial and Economic Affairs Committee of the NPC. House prices should be equal to about six years of a salary for a family the lawmaker says.

    NIGERIA: The unrest in Nigeria of the past year is clearly directly linked to the very uneven nature of distribution of resources between oil producing regions and those without oil, says Central Bank Governor.

    Bonds – Active market with liquidity spreading to the 2018 & 2019 maturities on Thursday after the fresh injection from Wednesday’s auction. Their yield adjusted upward to mirror the cut off in primary. A lot of cautious trading intraday with yields not moving significantly besides the bonds which were auctioned. The new ten year issue should begin trading on Monday.

    Bills – With a few players missing out on the auctions and with the primary rate dipping by up to 90bps on the 182day bill, market opened bullish across the piece as

    some players tried to fill their orders on Thursday. Some light profit taking toward the close kept rates down on 20-30 bps on average.

    Money Market – OBB & unsecured rates are trading up at 14.50% & 15.50%. Liquidity is still thin though the markets are expecting the inflow of FAAC which was approved early last week.

    FX
    Hi Low Close Prev.Close
    USD/NGN

    NIBOR(%)                        LIBOR (%)
    O/N                15.1250     USD 1 month              0.2728
    7 Day            15.5417      USD 2 month             0.4052
    30 Day          16.2083    USD 3 month              0.5566
    60 Day          16.5667     USD 6 month             0.7918
    90 Day          16.8750     USD 12 month           1.1080
    Y/Y Consumer Inflation December 2011 :         10.30%
    FX Reserves: 20 January 2012              (USD bn) 33.90
    MPR                                                                               12.00%
    Source: FMD and CBN

    Related News

    West Africa wants deals with US, but entry bans a barrier – Tuggar

    Israel-Iran war already takes toll on oil and gas sector

    Nigeria to sign 30 investment MoUs with Brazil on energy, agriculture, others

    E-book
    Resilience Exhibition

    Latest News

    Police nab three electricity cable thieves in Niger

    June 19, 2025

    Geopolitical risk could add $10/b to oil prices – Goldman Sachs

    June 19, 2025

    Nigeria to introduce real-time tracking for oil export shipments

    June 19, 2025

    Green Energy International exports first crude from Nigeria’s Otakikpo terminal

    June 19, 2025

    1,500 NPA staff promoted in move to strengthen human capital base

    June 19, 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.