Home Companies&Markets MarketsBrief| Naira rebounds to N864.29/USD at NAFEM, T-Bills yield unchanged at 11%,...

MarketsBrief| Naira rebounds to N864.29/USD at NAFEM, T-Bills yield unchanged at 11%, bonds yield close flat

133
0
Cordros Mutual Fund prices and returns as of today
Access Pensions, Future Shaping

MON, DEC 11 2023-theGBJournal|The naira appreciated by 27.2% to N864.29/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM)

Last week, the exchange rate at the NAFEM window extended its losses, dropping 15.64% to close at N1,099.64/US$1.

The parallel market also followed the trend albeit with a smaller loss of 2.51% to settle at N1,195.00/US$1. This further narrowed the gap between the official and street market rates to 8.73% (25.65% a week previously).

At The Treasury bills secondary market, trading was mixed, but with a bullish bias, as the average yield pared by 1bp to 11.0%.

Across the curve, the average yield closed flat at the short end but dipped at the mid (-1bp) and long (-2bps) segments, following demand for the 178DTM (-1bp) and 346DTM (-2bps) bills, respectively. Likewise, the average yield contracted by 2bps to 14.6% at the OMO segment.

Elsewhere, trading in the Treasury bond secondary market was quiet, as investors anticipated today’s auction result. Thus, the average yield closed flat at 14.9%.

X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com

Access Pensions, Future Shaping
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments