GBOLABO AFUWAPE
The average money market rate settled at 10.50 percent , following a decline of 5.90 percent and 6.48 percent apiece in the OBB (Open Buy-Back) and OVN (Overnight) rates, which closed at 10.17 percent and 10.83 percent respectively.
Negative sentiment was dominant in the Treasury Bills space, as the average yield rose by 0.08 percent to close at a five-week low of 14.68 percent. The yields on all the tenors settled higher, except for the 3M and 6M tenors which declined by 0.24 percent and 0.11 percent respectively.
Conversely, the average bond yield declined during today’s session, closing at 15.17 percent. There was mixed sentiment in the market as there was a drop in the yield on seven (7) instruments while yields on five (5) instruments advanced. Six instruments traded flat on the day.
The Naira traded flat at both the Interbank and Parallel FX markets to close at N306.75/U$D and N363.00/U$D respectively.
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