Nigerian FX Market Trading Turnover Jumps 22% in June

In June 2026, the Nigerian foreign exchange market saw a total turnover increase of 22%, reaching $2,835.44 million, which represents an absolute increase of $512.37 million compared to the previous week's turnover of $2,323.07 million. This surge was primarily driven by a 21.18% increase in spot transactions, which totaled $2,771.40 million, up from $2,286.93 million the week ending June 19, 2026.

Additionally, the FX derivatives segment experienced a remarkable growth of 77.20%, with turnover rising to $64.04 million from $36.14 million. The report from FMDQ Securities Exchange attributes this growth in derivatives to an increase in the volume of FX forward exchange trades, while FX futures remained stable.

The daily average turnover for the week ending June 26, 2026, was robust at $567.09 million, reflecting broader efforts to enhance liquidity and transparency in the Nigerian autonomous foreign exchange market.