The Nigerian naira firmed against the U.S. dollar on the interbank market on Wednesday, supported by foreign exchange inflows from offshore investors ahead of a bond auction.

The naira closed at 158.20 to the dollar, higher than the 158.55 naira it closed on Tuesday.

The central bank sold $200 million at 155.80 to the dollar, the same amount it auctioned at its previous sale on Monday.

Dealers said foreign investors were buying naira to participate in a treasury bill sale on Wednesday, which helped lift the local currency.

Nigeria’s central bank offered 142.9 billion naira ($902 mln) in treasury bills with maturities ranging from three months to one year, at its twice-monthly auction on Wednesday.

The bank sold 32.9 billion naira worth of 91-day bills, 50 billion naira in 182-day paper and 60 billion naira in 364-day bills. Results of the auction were expected on Thursday, dealer said.

($1 = 158.50 naira)

Source: Reuters (Reporting by Chijioke Ohuocha; Editing by Joe Brock)