MON 13 SEPT, 2021-theGBJournal- The naira depreciated by 0.2% and 0.7% to NGN412.75/USD and NGN549.00/USD at the I&E window and parallel market, respectively.
At the money market, the overnight lending rate expanded by 25bps to 14.8% in the absence of any significant inflows into the system.
The NTB secondary market was flat, as the average yield stayed unchanged at 4.9%. Similarly, the average yield at the OMO segment remained unchanged at 6.2%.
Trading in the Treasury bond secondary market was mixed, albeit with a bearish tilt, as the average yield expanded by 1bp to 11.1%.
Across the benchmark curve, average yield expanded at the long (+3bps) end, as investors sold off the APR-2049 (+24bps) bond but pared at the short (-1bp) end following demand for the APR-2023 (-2bps) bond; the mid-segment closed flat.
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