EUR: The euro hovered near a two-week high against the dollar after the European Central Bank assured investors it was ready to buy bonds to tackle the debt crisis with further gains dependant on U.s jobs data later in the day
ZAR: South Africa’s rand extended its losses against the dollar to nearly 4 percent, plumbing a 3-1/2 year low as investors dumped local assets on worries about the impact of a wave of illegal strikes sweeping Africa’s biggest economy
GBP: The pound hit its highest in a week against the dollar but dropped to a two week low against the Euro as a fall in the U.S. unemployment rate to a neat- four year low lifted riskier currencies.
JPY: The dollar eased against the yen backing off from a two-week high hit late last week after a surprise drop in the U.S. unemployment rate soothed investor concerns about the U.S. economy’s outlook.
Bonds: Sellers session to close the week due to profit taking on the JPM bonds, relative stability expected in the new week.
Bills: Relatively calm session due to another OMO auction announcement, flat movement in the new week if the OMO issuance continues and there will also be a primary auction next week, hence supply of securities is guaranteed.
Money Market: OBB and O/N rate close the week at 10.50% and 10.75% respectively, total of NGN 315.93 bio was issued via OMO bills this week at three different auctions.
Indicative Currency Exchange Rates
EURUSD 1.2950 1.3050
GBPUSD 1.6050 1.6150
USDJPY 77.50 78.50
USDCHF 0.9300 0.9350
GBPEUR 1.2380 1.2480
USDZAR 8.7000 8.7050
USDNGN 156.00 156.50
JPYNGN 1.9700 2.0300
CHFNGN 167.43 171.43
EURNGN 202.71 208.21
GBPNGN 251.79 259.29
ZARNGN 16.88 18.88
NIBOR (%) LIBOR (%)
O/N 10.3333 USD 1 month 0.21850
7 Day 10.7500 USD 2 month 0.28550
30 Day 12.2083 USD 3 month 0.35125
60 Day 14.0833 USD 4 month 0.44010
90 Day 14.7083 USD 6 month 0.61790
USD 12 month 0.6250
Y/Y Consumer Inflation August 2012 : 11.7%
FX Reserves: 04 October 2012 (USD bn) 41.48
Source: Reuters, Bloomberg, Central Bank of Nigeria, Financial Market Dealers Association Standard Chartered Bank Nigeria.
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USD/NGN 157.23/33 156.55/65 157.05/15 156.55/65