Naira weakens by 0.4%

Naira sees 0.04% uptick at I&E Window

Naira weakens by 0.4%   Nigerian currency, naira weakened by 0.2 per cent to N411.88/$1 at the I&E window and by 0.4 per cent to 482.00/$1 in the parallel market. In the money and fixed income space, the overnight lending rate fell by 458bps to 11.8 per cent, in the absence of any significant funding pressure on the system. The NTB secondary market was bearish, as the average yield expanded by 31bps to 2.1 per cent. Across the curve, average yield declined at the short (-8bps) and mid (-1bp) segments…

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