NFEM FX Turnover Hits $1.45bn in One Day, Weekly Volume Jumps 47%
Nume Ekeghe Trading activity on Nigeria’s official foreign exchange market surged last week, with daily turnover climbing to a record $1.45 billion as the market recorded one of its busiest
The Nigerian Foreign Exchange Market (NFEM) experienced a significant surge in turnover to $1.45 billion in a single day on September 10, marking a 167.2 per cent increase from the previous day. This represents the third-highest single-day turnover recorded in the NFEM data series, which spans transactions from December 2024 to the present.
The sharp increase was accompanied by a record 470 interbank transactions, helping to lift total NFEM turnover for the five trading days ended September 11 to $3.87 billion, a 47.2 per cent increase from the previous week's $2.63 billion. Despite the surge in value traded, the number of transactions remained relatively stable, with only a marginal decline of 0.5 per cent.
Brief written by urgent.news from This Day's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
