Nigerian Eurobonds Gain for a Third Day
Nigeria’s dollar bonds gained for a third day, with the yield on 2032 securities falling 48 basis points to 11.94% by 2:06 p.m. in Abuja, the capital. The premium investors demand to hold the country’s dollar debt rather than US Treasuries has narrowed 42 basis points since Wednesday to 723, the lowest in a month.
The naira weakened 0.2% to 461.43 a dollar on the official market. It traded at 765 naira to the greenback on the parallel market, down from 760 naira over the weekend, Umar Salisu, a bureau de change operator who tracks the data in Lagos, said by phone.