{
  "id": 8805577,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T00:27:32.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/fx-turnover-drops-30-23-as-spot-derivatives-decline/"
  },
  "original_language": "en",
  "account": "The foreign exchange market experienced a significant drop in trading activity during the week ending 18 September 2026, with total turnover decreasing by 30.23% to $2,366.30 million, according to official data released by FMDQ Group Plc. This drop was largely attributed to a sharp decline in both spot and derivatives transactions. The Group Chief Operating Officer of FMDQ Group PLC, Ms Tumi Sekoni, attributed the decrease to a 21.06% reduction in FX Spot transactions and a staggering 93.74% drop in FX Derivatives transactions. The derivatives segment suffered the most severe contraction, with turnover plummeting from $427.99 million the previous week to just $26.78 million. The spot market also faced a decline, falling by 21.06% to $2,339.52 million. Despite the overall downturn, spot transactions continued to dominate, making up 98.87% of the total turnover for the week, while derivatives accounted for the remaining 1.13%. Market activity was further dampened by a decline in daily turnover, which averaged $473.26 million, down from the $678.33 million average in the previous week.",
  "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": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "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",
        "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."
}