LAGOS: Nigeria's naira firmed against the U.S. currency on Monday, lifted by inflows from offshore investors participating in a debt auction this week and dollar sales from the local unit of Chevron, dealers said.
The unit ended at 162.70 naira to the dollar, up 0.25 percent from Friday's close of 163.10 naira.
Dealers said the local units of some international banks bought the naira on behalf of their offshore clients investing in Nigerian assets, and Chevron also sold $37 million.
"We expect more dollar flows from investors buying treasury bills this week," one dealer said, adding that the naira could cross the 163 mark without fresh inflows.
The central bank plans to issue short-dated treasury bills on June 18 to raise 168.3 billion naira ($1.03 bln), part of a debt issuance programme it announced last week.
Last week, the naira dipped after the state-owned energy company NNPC sold fewer dollars than expected, disappointing dealers who were long on the naira.
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