The naira yesterday weakened against the US dollar by 1.4% or N0.20k at the inter-bank market in spite of the supply of the greenback by the Central Bank of Nigeria (CBN) and two oil companies.
Foreign exchange dealers attributed the naira depreciation to scarcity of dollar owing to the new foreign exchange policy of the CBN.
The CBN on Monday raised the operational licence and mandatory cautionary deposit of BDCs to N35 million, which is against the earlier N10 million that has been in operation some years back.
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