TUE, DEC 05 2023-theGBJournal| The naira appreciated by 3.9% to N806.73/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The overnight lending rate contracted by 21bps to 16.0%, in the absence of any significant inflows into the system.
Trading in the NTB secondary market was bearish, as the average yield expanded by 47bps to 11.0%.
Across the curve, the average yield closed flat at the short and mid segments but advanced at the long (+46bps) end following sell pressures on the 352DTM (+16.05ppts) bill.
Elsewhere, the average yield pared by 1bp to 14.6% in the OMO segment.
The FGN bond secondary market traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1bp to 15.6%.
Across the benchmark curve, the average yield closed flat at the short and mid segments but dipped at the long (-2bps) end following demand for the MAR-2050 (-17bps) bond.
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