The naira on Thursday appreciated by N3.13 percent to close at N902.08 to a dollar on the official market (NAFEM window) where forex is officially traded.
This represents a gain of N29.15 in the local currency compared to the N931.23 it closed the previous day.
The intraday high recorded was N1261/$1, while the intraday low was N760/$1, representing a wide spread of N501/$1.
According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $176.53 million, representing a 155% increase compared to the previous day.
However, the naira recorded marginal depreciation at the parallel (black) market where forex is sold unofficially.
The exchange rate was quoted at N1355/$1, while peer-to-peer traders quoted around N1358.53/$1.
In Lagos and Abuja, the dollar exchanged for between N1, 350 and N1,355.