Naira depreciates In I and E window

The naira depreciated by 0.1% to close at NGN415.00 for the first time since last week. It, however, remained stable in the interbank market.

In the absence of any significant funding pressures on the system, the overnight lending rate stayed the same at 15.5%.

The NTB secondary market average yield remained unchanged at 4.5%.

Across the benchmark curve, the average yield was unchanged in the short and mid segments but contracted in the long segments following demand for 352DTM bills.

The OMO segment’s average yield remained flat at 5.5%.

Trading in the treasury bond secondary market tilted towards a bearish mood as the average yield was expanded by 1bp to close at 11.4%.

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