Yields Continue Southward Drift
Yields on the instruments traded on the money market continued their southward drift. The policy 91-day bill has lost 23bps over the past four weeks. At this week’s auction, the bill shaved off 4bps from last week’s price and was quoted at 9.81%. Its counterpart 91-day (s/s) lost 5bps to 10.45%. The 182-day bill was down 4bps to 10.81%. The 1-year note was down 5bps to 13.25%.
Dalasi Looses Ground Against The Greenback
The relative strength of the United States Dollar on the international currency market was reflected on the local Parallel Forex Market. The local currency lost 65bututs against the Dollar and was quoted at D28.50. This has been the highest weekly drop this year. The Dalasi remained unchanged against the Pound Sterling at D42.15 and appreciated by 53bututs against the Euro to D36.75. The movement of the Dalasi was mixed on the interbank market. It remained unchanged against the Dollar at D27.00, depreciated by 13bututs against the pound sterling to D42.15 and gained 10bututs against the Euro to D37.15.
Dalasi Interbank Mid Exchange Rates
Dollar 27.00
Pound 41.88
Euro 37.15
CFA 282.50
Parallel Mid Exchange Rates
Dollar 28.50
Pound 42.15
Euro 36.75
CFA 278.50
