Market News
Nigerian FX market surges 11% to $2.63bn - PUNCH
By Jide Ajia
The foreign exchange market in Nigeria experienced a notable surge in activity for the week ended 25 September 2026, driven by strong growth across both spot and derivatives transactions.
According to market data released by FMDQ Group Plc, total turnover across FX Spot and Derivatives markets reached $2.63bn. This represents an 11.02 per cent increase, or an additional $260.85m, compared to the $2.37bn recorded in the previous week ended 18 September 2026.
The weekly gain marks a quick rebound for the official market window following a sharp 30 per cent contraction during the prior week, where total weekly turnover had dropped from nearly $3.4bn to $2.37bn due to temporary dips in derivative execution.
