GBOLABO AFUWAPE
Nigeria’s Currency, the Naira appreciated by 0.02 percent at the interbank market to close at N306.80/USD last week, while at the parallel FX market, the Naira weakened by 0.55 percent to close at N364.00/USD.
The Open Buy-Back (OBB) and Overnight (OVN) rates dipped by 3.25 percent and 3.17 percent respectively to settle at 12.08 percent and 13.00 percent.
The average money market rate therefore
settled at 12.54 percent, having shed 3.21 percent last week.
The average Treasury bills yield dipped by 0.23 percent to close at 14.46 percent for the week.
The 1M instrument remained investors’ favorite this week, as it recorded a 1.91 percent decline inĀ yield to close at 12.06 percent.
The least favorite was the 3M tenor as its yield advanced by 0.53 percent, to settle at 12.33 percent.
The yield on the 6M and 9M instruments advanced by 0.18 percent and 0.11 percent respectively, while the 12M instrument shed 0.07 percent.
Conversely, the mood in the Bond market was bearish as the average bond yield advanced marginally by 0.02 percent to close at 15.24 percent.
Twelve (12) bonds advanced in yield this week, while six (6) recorded yield declines.
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