The Naira depreciated by -0.04% to exchange at NGN416.54/USD in the CBN interbank market, while it appreciated by +0.04% to exchange at NGN416.07/USD in the I & E window.
However, the naira still hovered around NGN570/USD and NGN573/USD in the parallel market.
In the money market, the overnight lending rate contracted by 25bps to close at 1.00%, down from its previous session figure of 1.25%, following the absence of any significant funding pressure on the system.
The external reserve continues to suffer a decline as it lost another USD110 million to close at USD40.01 billion as against the previous day's close of USD40.12 billion.
All other economic parameters, such as the MPR/Lending Rate and the inflation rate, stayed at 11.50% and 15.63%, respectively.
The average yield of the Nigerian Treasury Bill (NTB) secondary market remained unchanged at 4.4%.
Similarly, the average yield remained unchanged at 5.5% in the OMO segment.
Finally, in the secondary market for treasury bonds, the average yield remained unchanged at 11.5%. Across the curve, the average yield declined at the short end by -1bp, -1bp, and -3bps as traders sought the APR-27, 2023, MAR-14, 2024, and JAN-26, 2026 bonds, but expanded at the long end courtesy of profit-taking investors on MAR-27, 2035.
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