• Business - Market Data
  • Updated: February 08, 2022

February 7, 2022 FX, Money Market, Fixed Income Summary Report

The naira closed flat across all exchanged windows, trading at NGN416.50/USD, NGN416.88/USD, and NGN570/USD in the I & E window, CBN interbank market, and parallel market, respectively.

In the money market, the overnight lending rate contracted by 100bps to close at 12.30%, down from its previous session figure of 13.25%, following the absence of any significant funding pressure on the system.

The external reserve loss of USD710 million throughout the previous week pushed it to close at USD39.82 billion as against its year start position of USD40.52 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 stayed quiet, albeit with a bullish bias at 4.5%.

Similarly, the average yield remained unchanged at 5.5% in the OMO segment.

Finally, in the secondary market for treasury bonds, trading was slightly bullish as the average yield contracted by 2bps to 11.54%. Across the curve, the average yield declined at the short end, with the yield at 10.21% (-1bp) for the MAR-23, 2025 bonds, 6.81% (-4bps) for the APR-27,2023, and 8.38% (-35% for the MAR-14, 2024 bonds, but expanded at the mid segment, with 12.00% (+22bps) due primarily to investor sell-off positions for the FEB-23, 2028 bonds.


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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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Currencies Buy Rate Sell Rates
GBP - NGN 760.00 770.00
USD - NGN 560.00 570.00
EUR - NGN 645.00 655.00
More Exchange Rate

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