Market Update | Treasury News |
As at Tuesday, May 13, 2008
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Global Market Watch |
Currencies - USD rates against major currencies: |
| Euro - USD: |
1.5477 |
| Pound Sterling - USD |
1.9462 |
| USD - Swiss Francs: |
1.0525 |
| USD - South African Rand: |
7.5673 |
| USD - Yen: |
104.74 |
|
USD - Money Market Rates (%) |
Tenor |
Rates (%) |
| 1M Libor |
2.51 |
| 2M Libor |
2.62 |
| 3M Libor |
2.68 |
| 6M Libor |
2.83 |
| 1Y Libor |
2.96 |
|
Capital Markets - All Share Index |
| NSE |
62,463.66 |
|
| DOW |
12,815.65 |
-0.47% |
| FTSE |
6,211.90 |
-0.14% |
| JSE |
31,999.02 |
-0.46% |
| NASDAQ |
2,484.85 |
-0.15% |
|
| |
|
FX Market Watch |
Foreign Exchange Market Rates |
|
CLOSING USD/N FX RATES |
Market Segment |
Bid |
Offer |
| CBN (Form M) |
115.68 |
116.68 |
| INTERBANK |
117.83 |
117.88 |
| SPOT NIFEX |
117.84 |
117.89 |
| PARALLEL |
117.50 |
119.50 |
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The dollar rose for the first time in four days against the euro as retail sales excluding autos increased in April more than forecast, raising speculation the Federal Reserve will stop cutting borrowing costs. |
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|
WDAS: Market Update |
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The Central Bank had $80million on offer at yesterday's WDAS but sold a total of $129million which includes $14million sold to bank's BDCs.
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The Naira was fairly stable at the interbank foreign exchange market today trading between 117.88 and 117.92 against the dollar. The Naira is expected to appreciate tomorrow in anticipation of dollar inflows from the Central bank through WDAS. |
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Money Market Watch |
-
Selected Macroeconomic Indices
|
Inflation |
| 12mth Average |
5.80% |
(Nat. bureau of stat. Mar' 08) |
| Yr/Yr ∆% |
7.80% |
(Nat. bureau of stat. Mar' 08) |
|
NSE All – share index |
62,463.66 |
|
MPR |
10.0% |
(wef mar 08) |
| |
|
|
|
Nigerian Treasury Bills Discount Rate |
Tenor |
|
Rates (%) |
Price |
| OBB: |
|
10.00 |
|
| Primary Market(T/bills): |
91 days: |
8.40 |
|
| |
182 days: |
9.25 |
|
| |
364 days |
8.880 |
|
| OMO |
220 Day |
|
| OMO |
339 Day |
|
| |
|
Rates (%) |
|
| FGN Bonds: |
3 years |
9.60 |
| |
5 years |
9.65 |
| |
7 years |
9.25 |
| |
10 years |
11.03 |
| |
Commodity Prices |
|
|
|
| Light Crude |
(May 08 deliveries) |
$126.21pb |
(+$1.98) |
| Brent Crude |
(May 08 deliveries) |
$124.18pb |
(+$1.27) |
| Natural Gas |
(June deliveries) |
$11.61mmbtu |
(+$0.31) |
| Cocoa |
(Jul 08 deliveries) |
$2,626.00 |
USD/Ton |
| |
|
Nibor Rates |
Tenor |
Rates (%) |
| Call |
11.2500 |
| 7 D Nibor |
11.2500 |
| 30 D Nibor |
13.2500 |
| 60 D Nibor |
13.8333 |
| 90 D Nibor |
13.9167 |
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OBB & Overnight rates remained at 10.00% and 11.75% today. |
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The Minister of State for Finance has announced that excess crude funds of about N400Billion will be released into the system tomorrow. If this happens, we expect a decline in the Interbank rates. |
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The CBN has had to play its role of lender of last resort to banks with a volume of about N130Billion as at yesterday's figures. |
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This publication is strictly for information purposes only. Zenith Bank Plc and its employees make no representation as to the accuracy and completeness of the information contained in this publication. Therefore we accept no liability for any loss that may arise from the use of such information. For further enquiries/information on this publication, please contact Egondu Uzo-Ogbonnaya, Lilian Uzoma at the Treasury Group on 234-1-2783031 and 2782316; Eunice Sampson, Olurotimi Arowobusoye at the Research and Economic Intelligence Group on 234-1-2781049 and 2781051. |
