Nigeria naira firms 0.18 pct as oil companies sell dollars

The Nigerian currency firmed 0.18 percent to 165.40 naira against the U.S. dollar on Wednesday, after two multinational oil companies sold the greenback on the interbank market, dealers said.
Dealers said the local unit of ExxonMobil sold $50 million, while French oil firm Total sold $88 million, to boost dollar liquidity on the interbank market.
The naira has been under pressure over the past five weeks, unnerved by falling global oil prices, which caused offshore investors to cut back their positions in the debt and stock markets. Nigeria is northeast of Africa's biggest oil producer.
Dealers expect the naira to stabilise within the current level as more energy companies sell dollars as part of their month-end sale.
The currency closed at 165.70 naira on Tuesday.