TUE. 20 DEC, 2022-theGBJournal| The naira depreciated by 0.3% to N452.67/USD at the I&E window following continued pressure on the exchange rate.
At the parallel market, the local currency rebounded slightly, selling at N744/$ as against N745/$ it traded on Monday.
The overnight lending rate was unchanged at 8.8%, despite the inflow from OMO maturities (NGN5.00 billion).
Meanwhile, the Nigerian Treasury Bills (NTB) secondary market traded with bullish sentiments, as the average yield contracted by 3bps to 8.2%.
Across the curve, the average yield contracted at the short (-9bps) end as investors demanded the 79DTM (-43bps) bill, but closed flat at the mid and long segments.
Elsewhere, the average yield was unchanged at 10.1% in the OMO segment.
Similarly, the Treasury bond secondary market was bullish, as the average yield contracted by 6bps to 13.3%.
Across the benchmark curve, the average yield contracted at the short (-15bps) and long (-1bp) ends due to the selloff of the JAN-2026 (-65bps) and APR-2037 (-6bps) bonds, respectively.
Conversely, the average yield was flat at the mid segment.
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