The Naira at the official market of the Central Bank of Nigeria (CBN) closes flat N1454 against the dollar on Monday.
At the official Nigerian Foreign Exchange Market (NFEM) rate, the local currency had closed last week at N1,454 against the dollar from N1,446.90 against the dollar it opened for trading.
Meanwhile, the overnight lending rate remained unchanged at 22.7per cent.
Activities in the Treasury bills secondary market were bullish as the average yield contracted by 2bps to 17.4per cent.
Across the curve, the average yield contracted at the short (-2bps) and mid (-2bps) segments, driven by the demand for the 59DTM (-3bps) and 150DTM (-3bps) bills, respectively but expanded at the long (+88bps) end due to selloffs of the 318DTM (+214bps).
Likewise, the average yield contracted by four bps to 22per cent in OMO segment.
The FGN bond secondary market traded on a bearish note as the average yield expanded by 28bps to 15.8per cent.
Across the curve, the average yield expanded at the short (+70bps) and mid (+8bps) segments driven by the sell pressures on the AUG-2030 (+153bps) and APR-2032 (+33bps) bonds, respectively. The average yield remained unchanged at the long end.
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