FMDQ FX Spot and Derivatives markets recorded a total turnover of $1,208.23 million for the week ended September 13, 2024.
The figure represents an increase of 12.2 per cent ($131.18 million) from $1,077.05 million reported for the week ended September 6, 2024.
According to the exchange, the week-on-week (WoW) increase in total turnover was solely driven by the 12.7 per cent ($136.48 million) increase in FX Spot turnover, which recorded a total value of $1,208.23 million, compared to $1,071.75 million recorded in the week ended September 6, 2024, offsetting the 100 per cent ($5.30 million) decrease in FX derivatives turnover.
It pointed out that the WoW decrease in FX derivatives turnover was solely driven by the 100.00 per cent ($5.30 million) decrease in FX forwards turnover, coupled with the ongoing lack of activity in both the exchange-traded FX futures and cleared naira-settled non-deliverable forwards…
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