By Peace Udugba — The Daily Torch Media
Foreign exchange market turnover on the FMDQ Exchange rose by 11.02 per cent week-on-week to $2.627 billion in the week ended September 25, 2026, driven largely by increased activity in the FX Spot market.
According to the latest FMDQ Foreign Exchange Market Analysis Report, total turnover in the FX Spot and Derivatives markets increased by $260.85 million, from $2.366 billion recorded in the week ended September 18, 2026.
The report showed that FX Spot transactions accounted for the bulk of the increase, rising by 10.62 per cent, or $248.42 million, to $2.588 billion, compared with $2.340 billion recorded in the previous week.
Similarly, turnover in the FX Derivatives market, comprising FX Forward transactions, increased by 46.42 per cent, representing a $12.43 million rise during the review week.
FMDQ attributed the overall week-on-week increase in total FX market turnover to the combined growth recorded in both the Spot and Derivatives segments.
The figures cover transactions between FMDQ Dealing Member Banks/Authorised Dealers and their clients during the two-week period under review.
Table 1: Weekly FX Turnover Analysis
