The naira recovered from it decline on Friday to gain a 0.6% marginal growth of N414.80 against the United States Dollar at the I & E window.
It however, depreciated by -0.1% at the interbank bank market to exchange at N411.63 to a US Dollar.
Figures compiled by our correspondent showed that the naira fell to N555.15 to a US Dollar in the parallel market.
In other news, the interbank offered rate contrasted by 68bps as it fell from 17.00% to close at 16.02% following inflows from matured Open Market Operations (OMO) securities totaling NGN60.20 billion.
Trading in the Nigerian Treasury Bills (NTS) secondary market was quiet as investors awaits today’s Primary Market Auction (PMA). As a result, the average yield was unchanged at 5.1%.
Consequently, the Treasury Bond secondary market ended in a bearish mood, as the average yield expanded slightly by 1bp to 11.3%.
Across all benchmark, the average yield was flat on the treasury bond market as the short and mid segments expanded at long end with +3bps due to sell-offs of the JUL-2030 (+2BPS), JUL-2034 (+7BP), and MAR-2035 (+8bps) bonds
Other economic indicators stayed the same as MPR, Inflation and the external reserve stood at 11.5%, 20.79%, and USD41.39 billion respectively.
Our macroeconomic analyst still believes that the CBN will maintain the status quo as regards monetary policy decisions.
|Currencies||Buy Rate||Sell Rates|
|USD - NGN||415.23||416.23|
|EUR - NGN||457.42||458.52|
|GBP - NGN||547.98||549.30|