The naira gained 0.02% to exchange at NGN416.67/USD in the I & E exchange window, while it stayed flat in the CBN window to exchange at NGN416.37/USD.
The parallel market continues to experience a bit of volatility as it fluctuates between NGN572/USD and NGN575/USD, respectively.
There wasn't a lot of demand for money in the money market, so the overnight lending rate fell much further by 133bps to close at 12.7%, down from its previous session figure of 14.00%.
All other economic parameters, such as the external reserve, MPR/Lending Rate, and the inflation rate stayed unchanged at $39.78 billion, 11.50%, and 15.60%, respectively.
The average yield of the Nigerian Treasury Bill (NTB) secondary market stayed unchanged at 4.2%.
However, the average yield in the OMO segment stayed flat at 5.3%.
Unfortunately, trading activity in the treasury bill secondary market stayed flat.
Finally, in the secondary market for treasury bonds, there was a bit of buying pressure in the APR-27,2023, MAR-14, 2024, MAR-23, 2025, and MAR-11, 2027 bonds, as this forced the average yield to fall by 4bps, 2bps, 43bps, and 11bps, respectively, while in the mid-segment the yield fell by 7bps and 16bps for the MAR-27, 2035, and MAR-16, 2036 bonds.
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