Naira gained 0.11 percent against the U.S. currency on the interbank market on Monday, supported by inflows from lenders selling dollars to stay within a regulatory limit for holding hard currencies, dealers said.
The unit closed at 161.90 naira to the dollar, up from 162.07 naira it closed on Friday.
The naira eased to a five-week low against the greenback two weeks ago but recovered some ground last week after dollar sales by some oil companies, including state-owned energy firm NNPC.
Dealers expect some oil companies to supply dollars this week, meaning that the naira may see further support.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
