Saturday, July 28, 2007

Nigerian interbank rates dip on more cash inflows

(Reuters) - Nigerian interbank interest rates dipped at the short-end of the money market to 6.0 percent on average this week from 7.0 percent previously due to the inflow of more public sector funds, dealers said on Friday.

The secured Open Buy Back (OBB), call money and overnight placement all closed at 6.0 percent after the balance of monthly budgetary allocations to government agencies were disbursed.


Read more at Reuters Africa

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