The naira appreciated in the official market on Tuesday, strengthening to ₦1,630.45/$ from ₦1,670.65/$ in the previous session, reflecting a 2.41% increase.
Data from the FMDQ Exchange indicated a significant rise in daily turnover, reaching $242.59 million, up nearly 199% from Monday’s $81.17 million, indicating improved market liquidity.
During trading, the naira fluctuated between a high of ₦1,690/$ and a low of ₦1,601/$. In the Treasury Bills Market, new issues were completed at rates around 20.30%, while demand for the January NTB was noted at 21.34%.
The average benchmark yield in this segment decreased slightly to 24.20%.
In the Bonds Market, activity remained steady with an average yield of 18.77%. Analysts expect a stable session ahead in Treasury bills.
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