{
  "id": 1373726,
  "title": "FX turnover declines 44.9% to $2bn",
  "url": "https://urgent.news/2026/08/16/fx-turnover-declines-44-9-to-2bn",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-16T23:38:50.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/fx-turnover-declines-44-9-to-2bn/"
  },
  "original_language": "en",
  "account": "The foreign exchange (FX) market experienced a significant decline in turnover during the week ending 14 August 2026, with total turnover dropping 44.90% to $2,054.89 million. This marked a sharp contrast to the previous week's figure of $3,729.44 million, resulting in a week-on-week loss of $1,674.55 million. The contraction primarily stemmed from a sharp reduction in FX Spot transactions, which accounted for 99.33% of total market activity, falling to 95.58%. The loss in Spot trading turnover was dramatic, decreasing 46.98% from $3,704.44 million to $1,964.00 million, and the daily average for Spot transactions fell from $740.89 million to $443.22 million.\n\nOn the flip side, the FX Derivatives market saw substantial growth, increasing by 263.56% to $90.89 million over the same period. The surge was predominantly driven by the FX Forwards market, which also expanded by 263.56% to $65.89 million. This growth lifted the daily average for derivatives from $5.00 million to $18.18 million and boosted its market share from 0.67% to 4.42%. While the increase in forward contracts helped institutional clients lock in future exchange rates, it was not enough to offset the steep decline in Spot trading, ultimately resulting in a net decrease in overall market activity.",
  "summary": "Nigeria’s FX turnover declined by 44.9% to $2bn last week, driven by reduced spot transactions despite a surge in FX derivatives. Understand the market shi Read More: https://punchng.com/fx-turnover-declines-44-9-to-2bn/",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}