Nigerian naira seen stable next week

Nigeria's naira is seen stable around its current range as more energy companies buy the local currency to fund month end domestic payments and the central bank also provides support.
The naira currency closed at 165.65 to the dollar on the interbank market, compared with 164.80 last Thursday.
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.
Traders said demand for hard currency was gradually slowing down, while the central bank's resolve to support the currency had restored confidence and calmed the market.