• Wednesday, May 29, 2024
businessday logo

BusinessDay

Yields on Nigeria bond rise as investors exit on naira, oil worries

Eurobond

bondNigeria’s most liquid 3-year bond yield rose 45 basis points to 13.10 percent on Thursday, as foreign investors unnerved by falling global oil prices, cut their holdings on debt, dealers said.

Yields on local debt rose across board in volatile trade, dealers said, sending the naira currency down to a new closing low of 165.30 against the U.S. dollar.

The 10-year benchmark bond yield rose to 13.10 percent, up 33 basis point on the day.

Reuters