 In business news, Naira recorded a 0.12% depreciation on Tuesday to close at $425 compared to $420 recorded in the previous trading session, representing its lowest level since 16 May 2022. The fall in the local currency is despite the 129.7% surge in forex turned over to $113.12 million at the import and export window. Meanwhile, the exchange rate remained stable at the parallel market, closing at $606 to a dollar on Tuesday, the same as recorded in the past two trading sessions. This is according to information from BDC operators in Nigeria. The exchange rate at the peer-to-peer market moderated further on Wednesday, starting the day as low as $601 to $1 compared to $602 to $1 recorded as of the same time on Tuesday.