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  • Business - Market Data
  • Updated: February 09, 2022

February 8, 2022 FX, Money Market, Fixed Income Summary Report

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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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The naira depreciated by 0.04% at the I & E window and the CBN interbank market as it traded at NGN416.67/USD and NGN417.05/USD, respectively, while it stayed flat at NGN570/USD in the parallel market.

In the money market, the overnight lending rate contracted by 700bps to close at 5.3%, down from its previous session figure of 12.30%, following significantly huge inflows from matured Open Market Operation (OMO) bills worth NGN139.14 billion.

There was no massive depletion of the external reserve, which remained at USD 39.98 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 tilted slightly to the bullish end as it hit 4.3%.

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

Across the benchmark curve, the average yield stayed unchanged at the short end of the spectrum but contracted at the mid-end by -6bps and the long end by -87bps, following demand for the 176DTM (4.36%) and 190DTM (4.64%) bills, respectively.

Finally, in the secondary market for treasury bonds, the average yield stayed quiet at 11.54%. Across the curve, the average yield declined at the short end, as traders demanded the APR-27-2023, bond, but stayed quiet at the mid and long end following general inactivity.

 

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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...

More From this Author

Central Bank of Nigeria EXCHANGE RATE

Currencies Buy Rate Sell Rates
GBP - NGN 547.98 549.30
USD - NGN 415.23 416.23
EUR - NGN 457.42 458.52
More Exchange Rate

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