Nigeria’s currency on Monday recorded marginal appreciation of 0.06 percent at the official market as liquidity rose significantly by 138.04 percent.

The dollar was quoted at N411.55k on Monday compared to N411.75k quoted on Friday at the Investors and Exporters (I&E) forex window, data from the FMDQ showed.

Currency traders who participated at the trading session on Monday maintained bids at between N400.00k and N412.29k per dollar.

Read Also: Naira records marginal depreciation on low liquidity

The foreign exchange market daily turnover increased to $176.13 million on Monday from $73.99 million, the same data indicated.

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At the Bureau De Change (BDC) and the parallel market, naira closed flat at N500 and N505 per dollar respectively.

At the money market, the Overnight (O/N) rate decreased by 5.50 percent to close at 15.00 percent on Monday as against the last close of 20.50 percent on Friday, and the Open Buy Back (OBB) rate decreased by 5.25 percent to close at 14.50 percent compared to 19.75 percent on the previous day.

The Nigerian Treasury Bills secondary market closed on a flat note on Monday, with the average yield across the curve remaining unchanged at 6.89 percent, a report by FSDH Research nted. Average yields across short-term, medium-term, and long-term maturities closed at 4.58 percent, 5.57 percent, and 8.28 percent, respectively.

In the Open Market Operation (OMO) bills market, the average yield across the curve decreased by 13 bps to close at 9.76 percent as against the last close of 9.89 percent. Buying interest was seen across short-term, medium-term, and long-term maturities with average yields falling by 9 bps, 25 bps, and 4 bps, respectively. Yields on 24 bills compressed with the OMO 11-Jan-22 maturity bill registering the highest yield decrease of 51 bps.

The Federal Government Bonds secondary market closed on a mildly positive note on Monday, as the average bond yield across the curve cleared lower by 5 bps to close at 9.66 percent from 9.71 percent on the previous day. Average yield across the short tenor of the curve decreased by 7 bps, while the average yield across the medium tenor of the curve increased by 4 bps. However, the average yield across the long tenor of the curve remained unchanged.

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.

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