{
  "id": 15516000,
  "title": "FMDQ market turnover declines in mid-October",
  "url": "https://urgent.news/2026/10/18/fmdq-market-turnover-declines-in-mid-october",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-18T23:44:33.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/fmdq-market-turnover-declines-in-mid-october/"
  },
  "original_language": "en",
  "account": "The foreign exchange market saw a decline in trading activity during the week of 16 October 2026, with turnover falling to $2,620.70m. This decrease marks a 22.23% reduction from the previous week's $3,369.85m turnover.\n\nThe drop in activity was driven by a 19.83% decrease in FX Spot transactions, down to $2,595.81m from $3,237.90m, and an even more severe 81.14% drop in FX Derivatives transactions, which fell to $107.06m from $769.91m. FX Spot now accounts for 99.05% of total market activity, while FX Derivatives make up just 0.95%.\n\nThe broader contraction led to a daily average turnover of $524.14m for the week, down from $673.97m the prior week. This fluctuating liquidity is attributed to adjustments in the Nigerian financial markets, as institutions navigate new monetary policies, shifting capital flows, and macroeconomic pressures affecting foreign exchange availability and investment dynamics.",
  "summary": "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/",
  "key_points": [
    "Turnover declines to $2,620.70m, a 22.23% reduction",
    "FX Spot transactions down 19.83%, $2,595.81m",
    "FX Derivatives transactions drop 81.14%, $107.06m"
  ],
  "editors_take": "The sharp contraction in derivative trading signals a shift toward spot transactions as financial institutions adjust their strategies to navigate changing monetary policies and fluctuating liquidity in Nigerian markets.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch Nigeria",
        "title": "FMDQ market turnover declines in mid-October",
        "url": "https://urgent.news/2026/10/19/fmdq-market-turnover-declines-in-mid-october",
        "published": "2026-10-19T00:00:32.000Z"
      }
    ]
  },
  "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."
}