• World
  • Columnist
  • Commodities
  • WORLD BUSINESS & ECONOMY
  • Executive Knowledge Series
  • Finance
  • Manufacturing
  • Markets
  • Risk & Governance
  • Small Business
  • Technology, Media & Innovation
  • Comments
  • Business AM WebTV
  • Login

Businessamlive
  • FRONTPAGE
  • FINANCE
    • AllAsset ManagementAuditBankingBondBudgetCapital MarketsC&I LeasingCurrencyDealDebt marketForexFund RaisingFundingGovernmentHedge FundsInsuranceInvestmentInvestorInvestor ServicesMergers & AcquistionsMoney marketTreasury BillsMortgagePensionsPersonal financePonziQuantitative EasingshareTaxationTSAWealth Management
      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

      Companies

      Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance financial markets development

      January 19, 2021

      Finance

      Amidst N32.22trn public debt, analysts say Nigeria’s external debt service manageable

      January 19, 2021

      Finance

      Stringent regulations, business environment forced Stanbic IBTC out of BDC business

      January 15, 2021

  • MARKETS
  • ECONOMY
    • AllAfricaAgricAirportsAmericaAsiaAustraliaBreakthroughDealEuropeForeign InvestmentsforexGlobal marketGovernanceIMFMiddle EastNECANigeriaOutlookRich listSouth AfricaSport BusinessTradeU.KWest AfricaWorld Economic forum
      Markets

      Nairobi Stock Exchange pushes expansion plans with more listings in 2021, says CEO

      January 23, 2021

      Africa Investment Forum

      Africa’s $60bn losses in illicit capital flows due to multinationals’ tax avoidance, says AfDB Adesina

      January 22, 2021

      Frontpage

      Covid-19 vaccine: Nigeria, 54 others to benefit from African Union’s 270m doses

      January 21, 2021

      Finance

      Nigeria, Africa remittances on target as Wari, Lycaremit sign partnership

      January 21, 2021

  • COMMODITIES
  • ENERGY
    • AllConferenceElectricityOil and GasPowerRenewable
      Companies

      Appeal Court suspends order against shutting of SEPLAT headoffice

      January 23, 2021

      Frontpage

      OPEC welcomes push for electric vehicles, but says fossil fuel remains strong

      January 21, 2021

      National: Governance, Policy & Politics

      Nigeria ramps up domestic LPG consumption above 1MMT, says PPPRA

      January 20, 2021

      Companies

      TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme  

      January 19, 2021

  • TECHNOLOGY
  • MANUFACTURING
  • ANALYSIS
    • Analyst Insight

      Misconstruing Data Protection Officer function within organisations

      5 hrs

      Analyst Insight

      CBN meeting and NSE in focus

      January 18, 2021

      Analyst Insight

      Once again, fiscal stimulus takes centre stage

      January 18, 2021

      Analyst Insight

      Organisations must learn from the WhatsApp story  

      January 18, 2021

Frontpage

Naira posts mixed fortunes in Nigerian currency markets

Adesola Afolabi

Adesola Afolabi is  Businessamlive Reporter.
You can contact her on adesola.afolabi@businessamlive.com with stories and commentary.

May 15, 2018739 views0 comments

The Nigerian naira remained flat at N363 to the dollar in the parallel market, but continued to dip in value at the Investors and Exporters (I&E) window where it exchanged at N361.61 to the dollar.

Total turnover in the I& E window surged 171.62 percent to $341.45 million, with trades executed within the N358-N363/$ range.

The overnight lending rate eased 14,775 bps to 16.42 percent, from 164.17 percent yesterday, in the absence of any significant outflows at the money market.

Activities in the treasury bills market were bullish, as average yield moderated by 73 bps, to close at 12.91 percent. Yields contracted at the short (-24 bps), mid (-68 bps), and long (-120 bps) ends of the curve, driven by demand for the 86DTM (-43 bps), 170DTM (-88 bps), and 324DTM (-177 bps) bills, respectively.

Read Also:

  • Copper, aluminium prices mixed on LME, SHFE
  • Naira down N3 at N475/$1 in street trading as T-Bills market put up…
  • Access Bank unfolds ambitious expansion into Africa, global markets…
  • Total Nigeria, Mixta, Valency, list new CPs on FMDQ platform to enhance…
  • Nigerian cocoa dealers fret as price slump squeezes revenues

At tomorrow (Wednesday’s) NTB auction, the CBN is expected to offer N33.84 billion – N3.38 billion of the 91-day, N16.92 billion of the 182-day, and N13.54 billion of the 364-day – worth of bills to the market.

The bond market was also bullish, with average yield trending downwards by 5 bps to 13.16 percent. Yield across all ends (short: -4 bps, mid: -6 bps, and long: -5 bps) contracted, with the JAN-2022 (-14 bps), MAR-2027 (-9 bps), and MAR-2036 (-9 bps) bonds recording the most significant contractions, respectively.

Share on Facebook Tweet Email
TagsCurrency market Forex Naira Nigerian currency markets
PreviousNigeria Inflation rate slows to 12.48% in April
NextInvestors see share value drop by N22.5 billion in second day bearish Nigerian equities trading

Leave a comment

- Cancel reply

MARKET DATA

Market Videos

Recent Posts

  • Will Parler Prevail in Its Antitrust Case Against Amazon?
  • Why Universal Basic Income Should Be President Biden’s Top Priority
  • Safety and customer experience in aviation
  • CBN’s 300,000MT: A drop in ocean of Nigeria’s maize crisis
  • Will 2020 Be Seen as the Year of the SPAC Bubble?

World

Africa

Buhari, Okonjo-Iweala congratulate Adesina over reelection as AfDB President

Europe

EU businesses to cut investments in 2020, says EIB report

America

U.S. increases cost of visa application for Nigerians

Africa

Thatcher-Loving Nigeria Candidate Plans to Overhaul Economy

Africa

AfDB scales up industrialization pace on the continent, delivers improved business access to finance, skills, energy

Frontpage posts

0

Equities bargain hunt continues as big cap stocks drive Nigeria market index up 0.2%

Frontpage February 6, 2019

1
2

Nestlé grows half-year profit after tax by 30% pledges increased promotion initiatives for H2

Frontpage August 7, 2018

3

CBN wants oil marketers’ debts paid to improve financial system stability

Frontpage March 27, 2019

4

Stock Exchange delists two banks

Frontpage August 21, 2019

5

Commonwealth finance ministers in Washington to discuss joint action to prevent future debt crises

Frontpage October 15, 2019

SUPPORT

  • Photo Gallery
  • Help Centre
  • About Us
  • Accessibility

LEGAL & PRIVACY

  • Terms & Conditions
  • Privacy
  • Cookies
  • Copyright

SERVICES

  • Conferences & Events
  • Analysts Research
  • Advertising Rate
  • Ebooks

TOOLS

  • Portfolio
  • Newsletters
  • News feed
  • Currency Converter

SUBSCRIBE

Join us to get latest updates on business related news.

[mc4wp_form id="3076"]
  • ABOUT US
  • CONTACT US
  • CAREERS
  • TERMS & CONDITIONS
  • PRIVACY POLICY
Copyright 2017. All rights reserved. BusinessAMLive. A Businessnewscorp Member Company.