QUICK LINKS

×
  • Business
  • Updated: January 18, 2022

Naira Steadies At N416.33/USD In I & E Window

Latest News

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

The naira stayed flat at NGN416.33/USD in the I & E window, while it depreciated by 0.02% in the CBN interbank market to exchange at NGN414.89/USD.

However, the currency is still exchanged between NGN570/USD and NGN572/USD in the parallel market.

A currency trader expressed the belief that the ongoing CBN intervention will hopefully drag the price down in all exchange markets as more inflow comes in from the crude oil sale.

Inflation figures released by the Nigerian Bureau of Statistics (NBS) rose by 15.63%, while an update of the Monetary Policy Rate (MPR), which stands at 11.50%, should be presented this week.

The gross external reserve stayed at USD40.49 billion.

In the money market, the overnight lending rate expanded by 50 bps from its Friday close of 14.75% to close at 15.3% following the absence of any funding pressure on the system.

The average yield of the NTB secondary market stayed within the 2bps margin to remain at 4.4%.

In the NTB secondary market, the average yield declined by 2bps to 11.3%.

Across the benchmark curve, the average yield expanded at the short (+2bps) end as investors sold off Jan 22, 2026 (+18bps) bonds, but contracted at the mid (-5bps) and long (-4bps) segments following investors’ demand for FEB 23, 2028 (-21bps) and MAR 18, 2036 (-14bps) bonds, respectively.

Finally,  the average yield expanded by 5.6% in the OMO segment.

 

icon
Get the FREE app

Read the latest and trending news in Nigeria and around the World

Install

Tags

Join our Telegram platform to get news update Join Now
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
USD - NGN 415.23 416.23
EUR - NGN 457.42 458.52
GBP - NGN 547.98 549.30
More Exchange Rate

0 Comment(s)

SPONSORED