FX market turnover jumps 22% as spot and derivatives trading rebound

By —

Activity in Nigeria's foreign exchange market surged in the final week of June. Total turnover rose by more than 22 percent.

According to FMDQ Securities Exchange, combined turnover in the FX Spot and Derivatives markets hit $2.835 billion. That is an increase of $512.37 million from the $2.323 billion recorded the previous week.

The rally was driven by both segments. Spot transactions grew by 21.18 percent or $484.47 million to reach $2.771 billion. Derivatives saw a sharper jump of 77.20 percent or $27.90 million to settle at $64.04 million.

FMDQ said the derivatives growth came entirely from FX Forwards. Exchange-Traded FX Futures remained flat at zero.

Daily average turnover for the week stood at $567.09 million. This reflects ongoing efforts by financial regulators to improve liquidity and transparency in the Nigerian Autonomous Foreign Exchange Market.

Forex News

FG opens applications for 30,000 free iDICE skills training slots for Nigerian youth
ABOKI FOREX
Banks filed 92% of Nigeria's suspicious transaction reports in 2025, NFIU reveals
ABOKI FOREX
FG opens applications for NiYA × Cascador Founders Programme, offers up to N5m funding for young entrepreneurs
ABOKI FOREX
Why your favourite beer could get costlier in Nigeria
ABOKI FOREX
FG begins VSTP payment verification, gives beneficiaries one week to update bank details
ABOKI FOREX
UBA inducts 374 young graduates, GMAP total tops 5,000
ABOKI FOREX
Arik Air Boeing 737-700 Being Dismantled at Lagos Airport Amid Access Bank Debt Dispute
ABOKI FOREX
Cement Price Climbs to N15,000 as Nigerians Demand Cost Breakdown, FCCPC Opens Probe
ABOKI FOREX
Dangote's net worth jumps to $35.2bn as refinery exports reshape fuel market
ABOKI FOREX
Buying land in Lagos? 9 crucial things to check before you pay
ABOKI FOREX