The Naira on Thursday depreciated by 0.1per cent to N1,449 against the dollar at the Nigerian Foreign Exchange Market (NFEM) rate from N1,447.50 against the dollar it opened for trading.
According to the Central Bank of Nigeria (CBN), the local currency on Thursday reached the highest and lowest rate of N1,450/ $ and N1,446/$, respectively to eventually close at N1,449/$.
Meanwhile,the overnight lending rate remained unchanged at 22.8per cent in the absence of any funding pressure on the system.
The NTB secondary market traded on a calm note, as the average yield remained unchanged at 17per cent.
Across the curve, the average yield contracted at the short (-2bps) end, driven by the demand for the 91DTM (-7bps) bill, but it expanded at the mid (+1bp) segment due to the sell-off of the 182DTM (+14bps) bill.
The average yield closed flat at the long end. Meanwhile, the average yield contracted by 1bp to 21.9% in the OMO segment.
The Treasury bond secondary market closed on a bearish note, as the average yield expanded by 5bps to 15.6per cent.
Across the benchmark curve, the average yield expanded at the short (+15bps) end, driven by profit taking activities in the JUL-2030 (+42bps) bond, but remained unchanged at mid and long segments.