The volume of transactions at the Investors’ and Exporters’
(I&E) forex window dropped by 49.58 percent to $85.79 million on Thursday
from $170.15 million recorded on Wednesday.
After trading on Thursday, the dollar was quoted at
$762.71/$1 as against N738.18 quoted on Wednesday at the official FX market
data from the FMDQ indicated.
FX dealers maintained bids as high as N799.90/$1 on
Thursday, stronger than N800/$1 bid on Wednesday. At the lower end they bid at
N720/$1, lower than N701/$1 recorded on Wednesday and Tuesday.
At the parallel market, also known as black market on
Thursday, naira steadies at between N920and N925 at the various street trading
areas across the country.
The money market Overnight (O/N) rate decreased by 0.40
percent to close at 2.60 percent compared to 3.00 percent on the previous day,
and the Open Repo (OPR) rate decreased by 0.68 percent to close at 1.90 percent
compared to 2.58 percent on the previous day, according to a report by FSDH
Research.
Nigeria treasury bills (NT-Bills) secondary market closed on
a flat note on Thursday with the average yield across the curve closing flat at
6.72 percent. Average yields across short-term, medium-term, and long-term
maturities remained unchanged at 3.12 percent, 5.82 percent, and 9.43 percent,
respectively.
The report noted that FGN bonds secondary market closed on a
mildly positive note on Thursday, as the average bond yield across the curve
cleared lower by 2 bps to close at 14.20 percent from 14.22 percent on the
previous day.
Average yield across the short tenor of the curve declined
by 19 bps, while the average yield across the medium tenor of the curve
expanded by 4 bps. However, the average yield across the long tenor of the
curve remained unchanged.
The March 23, 2025 maturity bond was the best performer with
a decrease in the yield of 38 bps, while the April 27, 2032 maturity bond was
the worst performer with an increase in the yield of 14 bps.
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