MON 19 JULY, 2021-theGBJournal-The naira depreciated by 0.3% to NGN411.67/USD at the I&E window but appreciated by 0.2% to NGN505.00/USD in the parallel market.
The overnight lending rate expanded by 675bps to 11.5%, in the absence of any significant inflow into the system.
The NTB secondary market traded flat, as the average yield was unchanged at 6.7%. Elsewhere, the average yield at the OMO segment contracted by 58bps to 8.7%.
Trading in the Treasury bond secondary market was bullish, as the average yield pared by 2bps to 12.1%. Across the benchmark curve, average yield contracted at the mid (-2bps) and long (-4bps) segments due to demand for the JUL-2030 (-4bps) and JUL-2034 (-16bps) bonds, respectively; the short end was flat.
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