LAGOS, Sept 1 The Nigerian naira firmed
against the U.S. dollar on Monday, supported by dollar sales by
the local unit of Royal Dutch Shell, dealers said.
The local unit closed at 162.40 naira to the dollar, firmer
than 162.55 naira it closed at on Friday.
Shell sold an undisclosed amount on Monday, increasing
dollar liquidity on the interbank.
The naira has traded around 161.70-162.55 last week on the
back of dollar flows from energy companies and some offshore
investors buying local debt in the wake of inclusion of
Nigeria's 2024 bond in the JP Morgan index.
"We expect more dollar sales from some oil firms, including
NNPC (state-owned oil firm) and offshore investors in the coming
day to boost the naira," one dealer said.
(Reporting by Oludare Mayowa; Editing by Tom Heneghan)