The naira on Monday gained 1.13 percent against the dollar on the interbank market in thin trade, supported by dollar flows from two energy companies, according to traders said.
The naira closed at 199.7 to the dollar compared with 202 on the interbank market on Friday, dealers said.
The central bank had set its intervention rate at 196.8/197.8 to the dollar on Monday, but dealers said the apex bank had not yet sold dollars to lenders by 1.02pm.
The Nigerian unit of Royal Dutch Shell sold an undisclosed amount of dollars while Eni sold $15 million, lending support to the naira, traders said.
The naira suffered its biggest monthly fall in over five years in February on concerns over political uncertainty and the central bank's ability to manage a currency hammered by weak oil prices.
Traders say they expect the naira would be driven by availability of dollar inflows through anticipated month-end sales by oil companies during the week.
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