{
  "id": 8804094,
  "title": "FX turnover drops 30.23% as spot, derivatives decline",
  "url": "https://urgent.news/2026/09/21/fx-turnover-drops-30-23-as-spot-derivatives-decline",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T00:27:32.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "url": "https://punchng.com/fx-turnover-drops-30-23-as-spot-derivatives-decline/"
  },
  "original_language": "en",
  "account": "The foreign exchange market experienced a significant downturn in activity during the week ending 18 September, 2026, with total trading turnover falling by an alarming 30.23% to $2,366.30 million, according to data released by FMDQ Group Plc. The total value of trades executed between authorized bank dealers and their clients declined by $1,025.34 million compared to the previous week, from $3,391.64 million to $2,366.30 million. Group Chief Operating Officer of FMDQ Group PLC, Ms Tumi Sekoni, attributed the performance to a sharp drop in both spot transactions and derivatives trades. Spot transactions, which dominated market operations at 98.87% of total turnover, fell by 21.06%, while derivatives transactions plummeted by an astonishing 93.74%, plummeting from $427.99 million to $26.78 million.",
  "summary": "Nigeria’s foreign exchange market turnover dropped by 30.23% to $2.37bn for the week ended September 18, 2026, driven by a decline in spot and derivatives. Read More: https://punchng.com/fx-turnover-drops-30-23-as-spot-derivatives-decline/",
  "key_points": [
    "FX turnover drops 30.23%, reaches $2,366.30 million",
    "Spot transactions decline 21.06%, down $427.99 million",
    "Derivatives trades plummet 93.74%, fall to $26.78 million"
  ],
  "editors_take": "The sharp decline in FX turnover, driven by drops in spot and derivatives trades, indicates a significant shift in market activity, likely affecting liquidity and trading strategies.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch Nigeria",
        "title": "FX turnover drops 30.23% as spot, derivatives decline",
        "url": "https://urgent.news/2026/09/21/fx-turnover-drops-30-23-as-spot-derivatives-decline-8805577",
        "published": "2026-09-21T00:27:32.000Z"
      }
    ]
  },
  "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."
}