The naira appreciated by 0.25% to close at NGN414.06/USD as against the Friday close of NGN415.75 at the I & E window.
It stayed stable at NGN411.76/USD in the CBN interbank market. However, it fluctuated between NGN573.00 USD and NGN571.00 USD in the parallel market.
The overnight lending (O/L) rate declined by 375bps to close at 14.0% as against the Friday close of 17.75%. This contraction was a result of the absence of significant funding pressures on the system.
The NTB secondary market traded quietly as the average yield stayed at 4.5%.
Similarly, mixed sentiments were recorded in the OMO segments as the average yield closed flat at 5.5%.
Trading in the treasury bond secondary market ended the day mixed, although slightly bullish, as the average yield fell by 1bp to close at 11.4%.
Across the benchmark curve, the average yield declined slightly at the short and long ends following investors’ demand for the APR-2023 (-3bps), MAR-2024 (-2bps), MAR-2025 (-1bp), APR-2037 (-2bps), and APR-2049 (-3bps) respectively.
The mid-segment stayed relatively static.
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