Activity in the Nigerian foreign exchange market experienced a significant surge in the final week of June, with total turnover climbing by more than 22 per cent, driven by a sharp rebound in both spot transactions and hedging derivatives.
According to the Weekly FX Turnover Analysis Report released by FMDQ Securities Exchange Limited for the week ended 26 June 2026, the combined turnover in the FX Spot and Derivatives markets jumped to $2,835.44m. This represents an absolute increase of $512.37m compared to the $2,323.07m recorded in the preceding week ended 19 June 2026.
In its assessment of the market trajectory, the report noted, “The week-on-week increase in total turnover was jointly driven by the 21.18 per cent ($484.47m) increase in FX Spot transactions, which recorded a total value of $2,771.40m compared to $2,286.93m in the week-ended 19 June 2026, and the 77.20 per cent ($27.90m) increase in FX Derivatives transactions.”
This post was originally published on this site.
