The naira strengthened at the interbank market yesterday as the Central Bank of Nigeria sold dollars at an auction and amid speculation that oil-producing companies would begin month-end dollar sales.
The currency climbed 0.1 per cent to 157.55 to a dollar after weakening by 0.1 per cent last week Friday as the CBN sold $200 million at its auction. The naira, according to Bloomberg has appreciated by three per cent this year, the second-best performing currency in Africa.
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