… Naira losses ground against the dollar
WED, 10 AUG, 2022-theGBJournal| The Treasury bills secondary market traded with bearish sentiments, as the average yield expanded by 17bps to 7.8%. Across the curve, the average yield was flat at the short and long ends; but expanded at the mid (+98bps) segment following profit taking on the 183DTM (+295bps) bill. Elsewhere, the average yield contracted by 60bps to 10.5% in the OMO segment.
Activities in the Treasury bond secondary market were bearish, as the average yield expanded by 17bps to 12.5%. Across the benchmark curve, the average yield expanded at the short (+39bps) and mid (+18bps) segments as investors sold off the APR-2023 (+167bps) and FEB-2028 (+72bps) bonds, respectively. Conversely, the average yield closed flat at the long end.
The overnight lending rate contracted by 17bps to 14.8%, as system liquidity settled at NGN19.53 billion.
The naira depreciated by 0.1% to NGN429.00/USD at the I&E window.
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