In the parallel market, the naira dropped from N1,490 per dollar on Thursday to N1,495 on Friday. The Nigerian Foreign Exchange Market (NFEM) saw a decline in the value of the local currency, which ended the day at N1,421.9 to the dollar. 

The indicative exchange rate increased to N1,421.9 per dollar from N1,421.5 per dollar on Thursday, according to data from the Central Bank of Nigeria (CBN), indicating a 4 kobo depreciation of the naira. 

Consequently, the difference between the official and alternative markets increased to N73.1 per dollar from N68.5 on Thursday. 

The naira concluded at the same level of N1,495 per dollar as it began in the parallel market, but it lost N1.4 against the dollar over the week at the official market.

Source