The Naira depreciated at all exchange windows to close at NGN416.38/USD, NGN415.64, and NGN573 in the I & E window, CBN interbank market, and the parallel market.
Inflation figures which were released by the Nigerian Bureau of Statistics (NBS) were still at 15.63%, while we wait for an update on the Monetary Policy Meeting (MPC) currently going on at the CBN headquarters in Abuja. In the interim, the Monetary Policy Rate (MPR) stands at 11.50%.
The gross external reserve stayed at USD40.49 billion.
In the money market, the overnight lending rate declined by 675 bps from its Friday’s close of 15.25% to close at 8.50% following the absence of any funding pressure on the system.
The average yield of the NTB secondary market stayed flat at 4.4%. Similarly, the average yield expanded by 5.6% in the OMO segment.
In the NTB secondary market, the average yield declined by 2bps to 11.3%. The average yield traded in the treasury bond secondary market stayed flat at 11.1%.
Across the benchmark curve, the average yield contracted by -6bps in the short and mid segments as investors sold off the JAN 22, 2026 (-24 & -10bps) and FEB 23, 2028 (-16bps) bonds, while the yield in the long segment remained unchanged.
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