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  • Business - Market Data
  • Updated: January 26, 2022

January 26, 2022 FX, Money Market, Fixed Income Summary Report

The Naira appreciated by +0.01% in the I & E window from its previous exchange rate of NGN416.38/USD to close at NGN416.33/USD, while it stayed flat at NGN415.64/USD, and NGN573/USD in the CBN interbank market and the parallel market, respectively.

The major economic information changed as the CBN released its MPR/Lending Rate for the month. The MPR stayed the same at 11.50%, while the inflation figure was 15.63%.

The gross external reserve stayed at USD40.49 billion.

In the money market, the overnight lending rate declined to its lowest point by 665 bps from its Monday’s close of 8.50% to close at 1.85% following cash inflows from matured OMO securities worth (N110 billion).

The average yield of the NTB secondary market stayed flat at 4.4%. Similarly, the average yield expanded by 5.6% in the OMO segment.

In the NTB secondary market, the average yield declined by 2bps to 11.3%.  The average yield traded in the treasury bond secondary market stayed flat at 11.1%.

The average yield increased by +15bps across the benchmark curve of the treasury bill secondary market at the mid-segments as investors sold off the 121-day TM to close at 4.26%.

Finally, in the bond market, the average yield contracted at the short end by -13bps, and the long segment by -2bps following investors' buying activities on the APR 27, 2023 bond by -44bps, the APR 26, 2029, and the MAR 27, 2035 bond by -23bps, respectively.

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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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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
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