Eurobonds, which have 2047 as their maturity, had risen 3.9 per cent to 67.1 cents on the dollaras of 12:30 p.m. in London.
Nigeria’s dollar bonds accelerated on Monday, a day after newly inaugurated President Bola Tinubu vowed to harmonise the country’s multiple interest rates.
Eurobonds, which have 2047 as their maturity, had risen 3.9 per cent to 67.1 cents on the dollar as of 12:30 p.m. in London, according to Bloomberg. Those due in 2049 added 3.4 per cent, while debts maturing in 2051 climbed 4 per cent. Johannesburg-based financial services group Absa forecasted earlier this month the president could allow a weakening of the local currency by 15 per cent so as to curb dollar scarcity.
The greenback exchanged for N751.19 at the parallel market on Tuesday, according to @naira_rates, which tracks rates using Application Programming Interface.
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