The naira stayed flat at all the exchange windows. It was exchanged for NGN411.74/USD at the CBN interbank market, NGN415.07/USD at the I & E window, and NGN560/USD at some selected parallel markets in Nigeria.
The overnight lending rate contracted by 200bps to 14.3% in the absence of any significant funding pressures on the system.
The NTB secondary market traded with slightly bullish sentiment as the average market yield declined by 3 basis points to 4.5%.
Across the benchmark curve, the average yield stayed flat at the short and mid-ends but contracted at the long segment following demand for the 322DTM bill.
In the open market operation segment, the average yield contracted by 3 basis points to 5.5%.
Trading in the treasury bond secondary market continued rather quietly as the average yield stayed unchanged at 11.4%.
Perhaps when taking a critical examination of the bond market, the 27.38TTM with an issue date of APRL-2049 yield curve expanded by 11bps to close at 12.97%.
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