Nigeria naira unchanged, supported by offshore dollar flows

The Nigerian currency was unchanged at 161.90 naira  to the U.S. dollar at Wednesday's market close, supported by inflows from offshore investors participating at a government debt auction, amid lower dollar demand, dealers said.
The naira closed at the same level as the previous day, remaining at a 7-week high it touched against the U.S. currency on Tuesday.
"The market remains very liquid to support the naira," one dealer said.
Nigeria sold 100 billion naira ($617.8 mln) in bonds at an auction on Wednesday. Auction result are expected on Thursday.
Dealers expect the naira to trade within a range of 161.50-162.30 as more oil companies start to sell dollars towards the end of the month to fund their local obligations.