The naira remained steady in the I & E exchange window and the CBN interbank market, trading at NGN416.50/USD and NGN416.34/USD, respectively.
The differential on the parallel market, on the other hand, has shrunk as the margin of difference closes, as it trades between NGN578/USD and NGN582/USD, depending on the state, location, quantity, and bargaining capability.
Other currency denominations' conversion rates may be found on our website:https://allnews.ng/category/business/nigeria-stock-market
Other economic indicators remained stable, despite external limitations such as the ongoing Russia-Ukraine conflict and a widespread petroleum shortage.
As a result, foreign reserves, the MPR/lending rate, and the inflation rate were all at $38.89 billion,11.50 percent, and 15.60 percent, respectively.
The overnight lending rate, which is the interest rate banks charge each other when they borrow from each other stayed the same at 5%.
The NTB secondary market traded with gloomy sentiments, with the average yield increasing by 7 basis points to 3.5 percent.
The average yield remained unchanged throughout the curve at the short end but increased at the mid-end (+2bps) and long-end (+9bps) as the market participants sold off the 164DTM (+15bps) and 360DTM (+395bps) securities. In the OMO market, the average yield fell 11 basis points to 3.8 percent.
The secondary market for treasury bonds was mixed, with a negative slant, as the average yield increased by 1 basis point to 10.4 percent.
The average yield on the benchmark curve decreased at the short (-1bp) end as investors demanded the APR-27, 2023 (-5bps) bond, but grew at the long (+3bps) end due to profit-taking on the JUL-18, 2024 (+31bps) bond. In contrast, the average yield in the mid sector remained steady.
0 Comment(s)