 For business news now, the Naira depreciated on Wednesday against the US dollar to close at 411 Naira 50 Cobra to a dollar compared to 410 Naira to a dollar recorded on Tuesday. The exchange rate remained stable for a second consecutive day at the parallel market to close at 500 Naira to a dollar on Wednesday. This was the same rate that was recorded on Tuesday, June 22, 2021. The fall of the local currency at the official window is further compounded by the persistent decline in Nigeria's external reserves, which is at a four-year low at just over $33 billion despite rising oil prices. The Naira, rather depreciated against the US dollar at the investors and exporters window on Wednesday, closed at 411.50 Naira to a dollar, representing a 1 Naira 50 Cobra drop when compared to the 410 Naira to a dollar that was recorded the previous day. The open and indicative rate closed at 411.15 to a dollar on Wednesday, June 23, 2021, representing a 20 Cobra drop when compared to the 410 Naira 95 Cobra to a dollar recorded on Tuesday, June 22, 2021.