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Central Bank Auctions $ 172 Million, All Share Index Down Marginally

By on January 12, 2012

The Central Bank sold $172 million in its bi-weekly currency auction yesterday, short of the $200 million it had announced was available on its website. The shortfall is due to a lull in demand due to the ongoing labour strike against the hike in petrol prices.

According to Bloomberg, the interbank rate fell less than 0.1% to N 161.91 at close of business yesterday, even as the marginal rate strengthened 0.1% to N 156.70.

Information on the Nigerian Stock Exchange activity for yesterday was also elusive as most providers, including the exchange itself did not provide any details on its activity. However it appears the market was open for business and the All Share Index fell less than 10 basis points to close at 20,901.13 according to Bloomberg.