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The Central Bank of Nigeria offered $250m and sold $242m in the foreign exchange auction held on Monday last week, but the transactions done on Wednesday, were not available as at the time of filing this report, a report from the FSDH Securities said.In the preceding week, the CBN offered $450m and sold $376.63m.At the inter-bank market, enhanced liquidity made the market to be awash with funds, making treasury bills to record huge oversubscription, despite the low discount rate on the instrument.The report made available to our correspondent by FSDH said, the 7-day Nigeria Inter-bank Offer Rate closed the week at 2.88basis points increase from the previous week‘s figure of 2.63 per cent.At the 91-day treasury bill auction, a total of N5bn worth of securities were offered and sold and the bill was 545.92 per cent subscribed, at a discount of 1.04 per cent.

A total of N15bn matured bills were repaid into the system, resulting in a net inflow of N10bn into that segment of the market.At the 182-day treasury bill auction, a total of N30bn worth of securities were offered and sold and the bill was 208.33 per cent subscribed, as N62.50bn worth of bid was received. The bill was issued at a discount rate of 1.53 per cent. In that segment, a total of N30bn worth of matured bills went into the system, thus netting off the outflow.At the 364-day treasury bill auction, a total of N360bn worth of securities were offered and sold and the bill was 262.5 per cent subscribed, as N78.75bn worth of bills were received. The bill was issued at a discount rate of 1.90 per cent. A total of N20bn matured bills were repaid into the system in that segment of the market, resulting in a net outflow of N10bn.The value of the naira appreciated in the official market, remained stable at the parallel market, but depreciated at the inter-bank market.