DMO sells N617.9b T- bills in one month, NGX records N42.4 billion turnover

THE Debt Management Office ( DMO) sold treasury bills valued at N617.9 billion across its auctions in June 2024.

The figure represents a 32.4 per cent ( N295.7 billion) month- on- month ( MOM) decline in the value of T- bills sold across its auctions in May 2024 ( N913.64 billion).

Latest data from FMDQ Securities Exchange indicated that the DMO sold FGN Bonds worth N297.01 billion in the same period, representing a 56.5 per cent ( N385.06 billion) MOM decrease when compared to May’s N682.1 billion.

According to the exchange, the ratio of sovereign securities sold by the DMO relative to the amount offered across its auctions in June 2024 was 125.1 per cent and 66.00 per cent for T. bills and FGN Bonds, respectively.

Also in the same period, the Central Bank of Nigeria ( CBN) sold OMO Bills worth N1.8 trillion in the primary market, representing a 229.4 per cent MOM ( N1.2 trillion) increase on the N538.3 billion sold in May 2024.

In the FX spot and derivatives markets, the total turnover for the week that ended on July 19 was $ 1.09 billion, a decrease of 1.16 per cent ($ 12.82 million) from $ 1.1 billion reported for the week ending on July 12.

FMDQ disclose d that W ow decrease in total turnover was jointly driven by the 1.15 per cent ($ 12.64 million) decrease in FX Spot turnover , which recorded a total value of $ 1.09 billion, compared to $ 1.1 billion recorded in the week ending on July 12, 2024, and 16.8 per cent ($ 0.18 million) decrease in FX Derivatives turnover.

It explained that W ow decrease in FX derivatives turnover was solely driven by the 16.8 per cent ($ 0.18 million) decrease in FX Forwards turnover, whilst there was a continued lack of activity in both the exchange- traded FX futures and cleared naira- settled non- deliverable forwar ds ( Cleared USD/ NGN NDFS) markets.

Also for the week ending on

July 19, 2024, the a verage

Nigerian Autonomous Foreign

Exchange Fixing NAFEX) was

$/ N1,568.76, compared to

$/ N1,546.21 recorded in the week ending on July 12, 2024.

Meanwhile, a turno ver of 2.8 billion shares worth N42.4 billion was recorded in 44,277 deals trade d by in vestors on the floor of the exchange last week, in contrast to a total of

2.7 billion valued at N85.2 billion that changed hands in

40,796 deals on July 12, 2024.