The Debt Management Office (DMO) sold T.bills valued at N406.10 billion across its auctions in July 2023.
This was contained in the FMDQ Markets Monthly Report for July seen by TheWitness.
The amount represents 0.39% (N1.59 billion) Month-on-month (MoM). An increase in the value of T-bills sold across its auctions in June 2023 (N404.51 billion).
Similarly, the DMO reopened two (2) 10Y, one (1) 15Y and one (1) 30Y FGN Bonds worth N657.84 billion in July 2023.
The report noted that the total sale represented a 182.73% oversubscription of the amount offered, and a 39.03% (N184.68 billion) MoM increase on the amount sold in June 2023 (N473.16 billion) for the same FGN Bond maturities.
FMDQ noted that the CBN did not conduct any public OMO Bills auctions in July 2023.
According to the report, there were no corporate bonds listed on the FMDQ Exchange in July 2023 compared to N17.50 billion worth of corporate bonds listed in June 2023.
The report stated that the total value of Commercial Papers (CPs) quoted on the FMDQ Exchange in July 2023 was N117.32 billion, representing a MoM increase of 42.85% (N35.19 billion) from the value of CPs quoted in June 2023.
According to the report, secondary market turnover on the FMDQ Exchange in July 2023 was N19.92 trillion, representing a MoM decrease of 8.37% (1.82 trillion) and a YoY increase of 0.81% (N0.16 trillion) from June 2023 and July 2022 figures, respectively.
It noted that Foreign Exchange (FX), Money Market (MM), and CBN Bills transactions dominated secondary market activity, accounting for 73.98% of the total secondary market turnover in July 2023.
According to the report, Spot FX market turnover was N3.61 trillion ($4.66 billion) in July 2023, representing a MoM decrease of 24.34% (N1.16 trillion) from the turnover recorded in June 2023 (N4.77 trillion).
Fixed Income: The report stated that the (FI) market turnover was N8.43 trillion in July 2023, representing a MoM increase of 12.16% (N0.91 trillion) from the turnover recorded in June 2023 (N7.52 trillion).
