By Peace Udugba
Nigeria’s foreign exchange market recorded a significant increase in trading activity in the week ended September 11, 2026, with total turnover in the FX Spot and Derivatives markets rising by 40.45 per cent to $3.39 billion.
According to the latest Foreign Exchange Market Analysis Report released by FMDQ, total turnover stood at $3.39164 billion during the week, representing an increase of $976.79 million from the $2.41485 billion recorded in the previous week ended September 4, 2026.
The increase was driven by stronger activity in both the FX Spot and Derivatives markets.
FX Spot transactions rose by 26.42 per cent, or $619.45 million, to $2.96365 billion during the review week, compared with $2.34420 billion recorded in the preceding week.
Similarly, FX Derivatives transactions, comprising FX Forward trades, increased significantly by 505.79 per cent, representing a rise of $357.34 million during the week under review.
FMDQ said the figures reflected increased trading activity between banks, authorised dealers and their clients in Nigeria’s foreign exchange market.
The latest performance represents a sharp improvement in overall market turnover compared with the previous week and points to increased activity across both spot and derivatives segments.
The FMDQ Foreign Exchange Market Analysis Report provides weekly insights into developments and trading activities in Nigeria’s FX market.
The report for the week ended September 11, 2026, is scheduled for publication on Monday, September 14, 2026.
Table 1: Weekly FX Turnover Analysis
