MON, JUNE 19 2023-theGBJournal |The naira depreciated by 13.9% to N770.38/USD at the I&E window.
The overnight lending rate remained at 12.1%, as the system liquidity closed at a net long position (N711.13 billion).
The Nigerian Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 32bps to 6.6%.
Across the curve, the average yield expanded at the short (+180bps) end following the sell-off of the 66DTM (+379bps) bill; but was unchanged at the mid and long segments.
Proceedings in the Treasury bond secondary market were quiet in anticipation of the outcome of the bond PMA held today. As a result, the average yield closed flat at 13.8%.
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