FX Derivatives surge over 500% as Nigeria’s weekly FX turnover improves 40.45% to $3.39 billion
Nigeria's foreign exchange market recorded a strong rebound in trading activity in the week ended September 11, 2026, with total turnover rising to $3.39 billion, jointly driven by a rebound in spot transactions and a sharp surge in derivatives trading. The post FX Derivatives surge over 500% as Nigeria’s weekly FX turnover improves 40.45% to $3.39 billion appeared first on Nairametrics .
In the week ended September 11, 2026, Nigeria's foreign exchange market experienced a significant surge in trading activity, with total turnover rising to $3.39 billion, according to FMDQ weekly FX market turnover data. This marked a 40.45% increase, or $976.79 million, compared to the previous week's $2,414.85 million. The recovery was driven by both spot transactions and derivatives trading, with derivatives activity emerging as a major contributor to the rebound, up from spot transactions alone in earlier rebounds.
The average daily turnover increased from $482.97 million to $678.33 million, reflecting stronger liquidity in the market. FX Derivatives' share of total turnover rose to 12.62%, up from 2.93% in the previous week, while Spot's share fell to 87.38% from 97.07%. The surge in derivatives activity was primarily due to businesses' interest in hedging against inflation risks caused by recent global energy price increases.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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