FMDQ Reports $2.32bn FX Market Turnover, up 7.70% in One Week

The Foreign Exchange (FX) market recorded a significant increase in trading activities as total turnover in the FX Spot and Derivatives markets for the week ended June 19, 2026, was $2,323.07 million, representing an increase of 7.70% ($166.05 million), according to data released by FMDQ Securities Exchange Limited (“FMDQ Exchange”).

The FMDQ weekly FX turnover report showed that total FX market transactions increased by $166.05 million from $2,157.02 million recorded in the week ended June 11, 2026.

 

According to the report, the growth was jointly driven by increased activity in both the FX Spot and FX Derivatives segments of the market.

 

FX Spot transactions rose by 6.80%, with a total value of $2,286.93 million compared to $2,141.29 million in the week ended June 11, 2026. The increase represented an additional $145.64 million in transactions.

The report further revealed that FX Derivatives turnover surged by 129.75% to a total value of $36.14 million, from $15.73 million in the preceding week, reflecting an increase of $20.41 million.

FMDQ Exchange attributed the sharp rise in derivatives trading to increased activity in the FX Forwards market, which accounted for the entire derivatives turnover for the week. FX Forwards transactions climbed to $36.14 million from $15.73 million in the week ended June 11, 2026.

Analysis of the market data showed that the daily average turnover for the week stood at $464.62 million, while FX Spot transactions remained the dominant contributor to overall market activity. The latest figures highlight sustained participation by FMDQ Dealing Member (Banks), Authorised Dealers and their clients, reflecting continued liquidity and trading activity within Nigeria’s foreign exchange market.

 

Market observers say the increase in both spot and forward transactions underscores growing confidence in the country’s FX market and the effectiveness of ongoing market reforms aimed at improving transparency and liquidity.

 

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