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Sale of treasury bills: the CBN wants to attract foreign investors to support the naira

27/05/2024
Source : ORISHAS-FINANCE
Categories: Index/Markets

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Alors que la banque centrale du Nigeria (CBN) cherche à attirer les investisseurs étrangers pour soutenir le naira, elle a vendu vendredi according to the results of the auction

, des bons du trésor à un rendement de 28.91%, the highest in at least 30 years.

La banque centrale du Nigeria sold 1.14 trillion naira ($773.41 million) worth of one-year bonds at an expected rate of 22.49% after initially offering 350 billion naira at the auction. For the third time this year, the central bank raised rates for the third time to 26.25% in an attempt to control runaway inflation and support the naira, which has weakened significantly due to the shortage of dollars. The Nigerian government borrows at very high nominal rates given its financing needs and the need to compensate debt holders and draw foreign currency to support the struggling currency. But rates remain negative while inflation reached 33.69% in April

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