THUR 16 SEPT, 2021-theGBJournal-The naira depreciated by 0.2% and 0.5% to NGN413.07/USD and NGN565.00/USD at the I&E window and parallel market, respectively.
At the Money Market, the overnight lending rate contracted by 580bps to 7.8%, in the absence of any significant funding pressures on the system.
The NTB secondary closed flat, as the average yield was unchanged at 5.5%. Elsewhere, the average yield at the OMO segment expanded by 27bps to 6.4%.
Trading in the Treasury bond secondary market ended on a bullish note, as the average yield contracted by 14bps to 11.3%. Across the benchmark curve, the average yield contracted at the short (-14bp), mid (-12bps), and long (-15bps) segments due to demand for the APR-2023 (-69bps), FEB-2028 (-20bps) and MAR-2050 (-53bps) bonds, respectively.
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