FMDQ market turnover declines in mid-October
Total turnover in the FMDQ foreign exchange spot and derivatives markets fell by 22.23% to $2,620.70m for the week ended October 16, 2026. Read More: https://punchng.com/fmdq-market-turnover-declines-in-mid-october/
The foreign exchange markets in Nigeria saw a significant decline in trading activity during the week of 16 October 2026, with total turnover dropping to $2,620.70m, a 22.23% decrease from the previous week's $3,369.85m. This downturn was driven by a 19.83% fall in FX Spot transactions and an even steeper 81.14% reduction in FX Derivatives trading.
FX Spot transactions, which previously made up 99.05% of the market, were valued at $2,595.81m, while FX Derivatives turnover plummeted to just 0.95% of total activity, amounting to $107.06m. The overall market daily average turnover fell to $524.14m, down from $673.97m the previous week, indicating a fluctuating liquidity situation as the Nigerian financial markets adapt to new monetary policies and changing capital flows.
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- FMDQ market turnover declines in mid-October punchng.com
