Buying Pressures Prevail in T-bills Market

• Buying Pressures Prevail in T-bills Market

Bullish sentiments prevailed in the secondary market for Treasury bills on Thursday as the average T-bills yield declined by 0.13 per cent to close at 14.51 per cent.

All the tenors witnessed yield declines, save for the one-month instrument which advanced by 0.07 per cent to close at 12.97 per cent..

The average money market rate dipped further by 6.43 per cent to settle at 7.79 per cent, following declines of 6.53 per cent and 6.32 per cent in the open buy-back and overnight rates.

In the Treasury bonds space, the average bond yield advanced by 0.04 per cent, to close at 13.52 per cent, according to Meristem data. Nine instruments recorded yield advancements, three declined, while others traded flat.

The naira traded flat at the parallel foreign exchange market, to close at N363/dollar, while it appreciated by 0.02 per cent at the interbank foreign exchange market, settling at N305.80/dollar.