By The Daily Torch Media
Nigeria’s foreign exchange (FX) market turnover fell by 21.38 per cent week-on-week to $2.41 billion in the week ended September 4, 2026, according to the latest weekly FX market analysis released by FMDQ Exchange.
The figure represents a decline of $656.67 million from the $3.07 billion recorded in the preceding week ended August 28, 2026.
According to FMDQ, the decline in overall market turnover was driven by reduced activity in both the FX Spot and FX Derivatives markets during the review period.
Total turnover across the FX Spot and Derivatives markets stood at $2.41485 billion, compared with $3.07152 billion recorded in the previous week.
FX Spot Turnover Falls 20.55%
FX Spot transactions accounted for the bulk of market activity during the week, but turnover declined by 20.55 per cent, representing a drop of $606.36 million.
Turnover in the segment fell to $2.34420 billion from $2.95056 billion recorded in the week ended August 28, 2026.
The decline reflects reduced transaction activity between FMDQ Dealing Member (Banks)/Authorised Dealers and their clients during the period.
FX Derivatives Turnover Drops 41.59%
The FX Derivatives segment recorded an even sharper decline during the week under review.
Turnover in FX Derivatives, comprising FX Forward transactions, fell by 41.59 per cent, representing a decline of $50.31 million from the previous week.
The combined decline in FX Spot and Derivatives activity consequently resulted in a significant reduction in total weekly FX market turnover.
The latest figures point to a moderation in activity across Nigeria’s formal foreign exchange market in the week ended September 4, 2026.
Table 1: Weekly FX Turnover Analysis
