The open buy-back and overnight rates pared by 0.17% and 0.33% apiece subsequently dragging the average money market rate to 10.88% at the close of the day’s trading.
Sell pressures dominated the treasury bonds space as yields trended northward across all instruments save for the MAR-2036 (-0.03%), JUL-2017 (-0.22%), AUG-2017 (-0.21%) and MAY-2018 (-0.29%) bonds which recorded declines in their respective yields. Consequently, average bond yield settled at 16.71%.
Weak appetite was witnessed on the 1-month Treasury Bill on the 7th of February, 2017. On the other hand, the 3-month bill witnessed minimal buy sentiments which resulted in a yield decline of 0.04%. Average yield, however, advanced by 0.10% to peg at 14.89%.
The Naira stood firm at the interbank FX market closing at NGN305.25/USD, while the parallel market rate closed at a new high of NGN500/USD.