NFEM Foreign Exchange Turnover Reaches $3.80 Billion

The Nigerian Foreign Exchange Market (NFEM) reported a foreign exchange turnover of $3.80 billion for the week ending August 7, 2026, with a total of 1,514 deals executed across five trading sessions. The highest daily turnover was recorded on Friday at $1.25 billion, which constituted approximately 32.8% of the weekly total.

Thursday followed with a turnover of $878.55 million, while Tuesday, Monday, and Wednesday recorded $684.60 million, $532.25 million, and $460.14 million, respectively. The week saw an average of about 303 deals per day, with Tuesday having the highest number of transactions at 343 deals.

Interbank activity was significant, with 572 interbank deals executed, representing 37.8% of total deals, and an interbank turnover of $860.92 million, about 22.6% of total NFEM turnover. The concentration of turnover was notable towards the end of the week, with Thursday and Friday accounting for approximately 56% of total turnover.