{
  "id": 15518463,
  "title": "FMDQ market turnover declines in mid-October",
  "url": "https://urgent.news/2026/10/19/fmdq-market-turnover-declines-in-mid-october",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T00:00:32.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/fmdq-market-turnover-declines-in-mid-october/"
  },
  "original_language": "en",
  "account": "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.",
  "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": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "FMDQ market turnover declines in mid-October",
        "url": "https://urgent.news/2026/10/18/fmdq-market-turnover-declines-in-mid-october",
        "published": "2026-10-18T23:44:33.000Z"
      }
    ]
  },
  "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."
}