馃嚦馃嚞NigeriaWest Africa
Nigerian FX derivatives fall 45.19% due to weak demand
via Punch Nigeria8 min read
Activity in the Nigerian foreign exchange market significantly decreased during the week ending July 10, 2026. Total turnover across the Spot and Derivatives markets fell by 46.57%, or $1,421.89m, to $1,631.12m, compared to the previous week's $3,053.01m. This decline was driven by a 46.62% decrease in FX Spot transactions and a 45.19% decrease in FX Derivatives transactions. The FMDQ Exchange noted that the drop in FX Derivatives turnover was specifically due to a 45.19% decrease in FX Forwards turnover, with Exchange-Traded FX Futures remaining at $0.00m. The overall market slowdown also led to a decrease in daily average liquidity, which dropped from $610.60m to $326.22m. Despite the reduction, FX Spot transactions continued to dominate the market, accounting for 96.86% of total turnover, while FX Forwards made up 3.14%.
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This summary was AI-generated from a story originally published by Punch Nigeria.
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