The federal government of Nigeria has raised a total of N212.85 billion ($654.92 million) in an auction of treasury bills on Wednesday, with yields little changed from previous sales, data from the Debt Management Office showed on Thursday.
The debt office raised 45.85 billion naira of three-month paper at 14.38 percent, down from 14.99 percent in mid-August; 62 billion naira of six-month bills at 17.50 percent, up from 17.48 percent, and 105 billion of one-year paper at 18.42 percent, down from 18.50 percent.
Higher subscriptions on the one-year sale suggested some offshore investors participated, market players said.
On Monday, offshore investors traded about $270 million through the interbank forex market to fund investments in naira debt.
But the naira which was traded at a new a fresh all-time low of 420 on Wednesday to the dollar at the parallel market, remained at the same rage on Thursday.
The naira, was sold at 418 to the dollar on Tuesday and has been under pressure on the black market for months.
The naira closed at 306 to the dollar on the official window after the apex bank dollar sales, reversing losses in early traded which saw it quoted at 317.09 to the dollar, but fell compared with the 305.50 naira closed the previous day.
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