MON APRIL 20 2026-theGBJournal| The Naira fell marginally at the NFEM window on Monday, dropping 0.3% to N1,350.00/US$1.
This is coming after a gain of 0.99% w/w to N1,343.64/US$1 by close of trade last Friday.
The currency traded within a relatively tight range during the week, briefly firming to around N1,342.30/US$1 midweek before stabilising toward the close.
In contrast, the parallel market rate weakened slightly, with the Naira depreciating by 0.71% w/w to N1,400.00/US$1, indicating some demand pressure in the informal segment despite improved conditions at the official window.
At the fixed income market, sentiment in the Treasury bills secondary market was bullish, as the average yield contracted by 2bps to 17.4%.
Across the curve, the average yield contracted at the short (-2bps), mid (-2bps) and long (-2bps) segments, driven by demand for the 80DTM (-2bps), 171DTM (-2bps), and 339DTM (-3bps) bills, respectively. Similarly, the average yield contracted by 4bps to 20.7% in the OMO segment.
Elsewhere, trading in the FGN bond secondary market was bearish, as the average yield expanded by 9bps to 15.6%.
Across the benchmark curve, the average yield expanded at the short (+20bps) and mid (+2bps) segments due to sell pressures on the FEB-2028 (+61bps) and APR-2032 (+23bps) bonds, respectively, but remained unchanged at the long end.
The overnight lending rate expanded by 7bps to 22.2% in the absence of any significant funding pressure on the system.
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