Nigeria naira broadly flat at 162.90 against U.S. dollar

Nigerian naira ended broadly flat on the interbank market on Wednesday, after strong demand for the U.S. currency countered the effect of dollar sales by two multinational oil companies, dealers said.
The local unit closed at 162.90 naira against the dollar, broadly flat compared with Tuesday's close of 162.80 naira, despite ExxonMobil selling $81 million and Eni $5 million to the interbank market.
"We expect the naira to remain stable ... because we are still anticipating dollar flows from Chevron and Shell," one dealer said.
Dealers said the naira had initially firmed to 162.60 during intraday trade before strong demand for the greenback hit the market to soak up available oil company dollars. Some currency users set limit price orders to buy dollars and come into the market depending on liquidity, dealers said.
The central bank offered to sell $350 million at its twice weekly auction on Wednesday, the same amount it offered on Monday