The naira on Wednesday appreciated by 1.3 percent to close at N1,262.85 against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
According to the FMDQ Exchange, the local currency at the official market traded high and low at N1,296.00 and N1,210.00 against the dollar, respectively.
Meanwhile, the overnight lending rate expanded by 26 basis points to 25.2 percent, in the absence of any significant funding pressure on the system.
The NTB secondary market traded on a bullish note, as the average yield dipped by five basis points to 17.6 percent.
Across the curve, the average yield declined at the short (-1bp), mid (-13bps) and long (-1bp) segments following buying interests in the 85DTM (-1bp), 176DTM (-86bps) and 323DTM (-1bp) bills, respectively.
Similarly, the average yield pared by one basis point to 18.4% in the OMO segment.
Proceedings in the Treasury bond secondary market was bullish, as the average yield contracted by 4bps to 19.2 percent.
Across the benchmark curve, the average yield decreased at the short (-15bps) end due to demand for the MAR-2027 (-79bps) bond but was flat at the mid and long segments.
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