Naira’s outlook positive as US releases inflation data

Oct. 8, 2024 - Businessday

Wednesday, October 9CBN to auction N81.90 Treasury BillsThe Central Bank of Nigeria will be auctioning Treasury bills worth N81.

90 billion on Wednesday. At the last auction, CBN rolled over a total of N227.

54 billion across the 91-182- and 364-day tenors and sold only N227.45 billion.

Only N177.1 billion worth of one-year Treasury bills was sold despite being oversubscribed to the tune of N250.

42 billion. According to data from the FMDQ, the naira’s performance in September was the strongest since June 2024, when it closed at NGN1,505/USD on the official window.

This marked an improvement from Wednesday’s closing of N1,669.15 at the Nigerian Autonomous Foreign Exchange Market (NAFEM), according to data from FMDQ Securities.

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