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

    December 29, 2011
    Share
    Facebook Twitter LinkedIn WhatsApp

    29 December 2011, Sweetcrude, Lagos – Local and international financial market update.
    · INDIA: India’s food inflation rate fell to the lowest level in at least five and a half years, increasing the scope for the central bank to cut interest rates after it halted a record pace of monetary tightening. The Reserve Bank of India refrained from raising rates this month for the first time in eight meetings as inflation eases and the fallout from Europe’s debt crisis threatens growth in Asia’s third-largest economy.

    · CHINA: China stocks rose for a second day, with the benchmark index capping its first back-to-back advance in a month, as investors speculated declines were overdone. Market players are of the opinion that low valuations and anticipation of policy easing have enticed some buying interest.

    · EURO: The euro weakened to a decade low against the yen and bond risk rose on concern Europe’s debt crisis will slow the global economy. The 17-nation euro weakened as much as 0.5 percent versus the yen before trading at 100.50 yen as of Wednesday night in Tokyo

    Economic / Central Bank News

    · A report by Oxford Business Group (OBG) has revealed that China accounts for roughly 25% of Nigeria’s inbound Foreign Direct Investment (FDI), equivalent to roughly $6.1b (N988.2b). Also, recent data released by the National Bureau of Statistics (NBS), showed that China was the country’s second largest source of imports for the first six months of 2011.About N737b ($4.57 b) of goods entered Nigeria from the Asian giant during the first two quarters of the year, equivalent to about 11% of total imports.

    · Bonds – Quiet trading day. Activity is expected to continue to be muted until the New Year.

    · Bills – Quiet trading day. Activity is expected to continue to be muted until the New Year. OMO offering of N100billion in 36 day bills but the CBN refused to sell citing the high range of bids received as their reason. We are still awaiting the results of the primary auction held today

    · Money Market – OBB & unsecured O/N 13.50% & 14.00% respectively. ”

    FX
    Hi                   Low                Close                 Prev.Close
    USD/NGN
       164.25/35        162.10/20         162.95/05          162.00/10

    NIBOR(%)                             LIBOR (%)
    O/N              14.3333            USD 1 month            0.2963
    7 Day            15.1250            USD 2 month            0.4252
    30 Day         15.7500            USD 3 month            0.5793
    60 Day         16.0833            USD 6 month           0.8080
    90 Day         16.3750            USD 12 month          1.1269
    Y/Y Consumer Inflation Oct 2011 :                         10.50%
    FX Reserves: 15 December 2011            (USD bn) 33.152
    MPR                                                                               12.00%
    Source: FMD and CBN

    Related News

    Can the African Energy Bank transform the continent’s refining and downstream future?

    OPEC Fund Development Forum 2025: A global call for inclusive growth

    High-performing green cement revolutionizes the industry

    E-book
    Resilience Exhibition

    Latest News

    “We want reparations”, oil-affected Niger Delta victims demand action

    June 13, 2025

    Transocean Coatings establishes affiliate at SIIFZ

    June 13, 2025

    LASG approves seven dedicated truck parks for Lekki Port axis

    June 13, 2025

    NCDMB Executive Secretary joins AEW 2025 amid focus on enhancing local capacity

    June 13, 2025

    AfDB to provide $184.1m for Africa’s largest solar energy and battery storage project

    June 13, 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.