Nigeria naira opens 0.55 pct down against US dollar at 165.40

LAGOS: Nigeria's naira opened 0.55 percent down on Thursday to hit 165.40 against the US currency, after rising demand at the interbank market soaked up available dollars sold by the central bank the previous day, dealers said.

The local currency had weakened further to 165.50 naira at 0848 GMT, a week after Nigeria's president suspended its central bank governor, which spooked financial markets.

The central bank on Wednesday intervened to lift the naira with dollar sales but strong demand for the greenback outweighed the move.