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Dealing member-client spot FX market turnover report


CBN headquarters building

For the week-ended December8,2017,trading activity in the Spot FX market between the banks and their clients stood at $ 1,352.45mm (average daily turnover of $270.49mm), representing a 29.92% increase from the $1,040.97mm (average daily turnover of $260.24mm), recorded the previous week, November 30, 2017.

A review of trading activity in the Spot FX market amongst banks for the reporting period revealed a 42.68% increase, as a total turnover of $189.58mm (average daily turnover of $37.92mm) was recorded against the $132.87mm (average daily turnover of $33.22mm) reported the previous week, November 30, 2017.

However, as at December 8, 2017, The Central Bank of Nigeria (CBN) recorded supply of US Dollars in the FX market, offering $100.00mm at a marginal rate of $/₦330 via a Single Secondary Market Intervention Sale (SMIS) – Wholesale session held during the week-ending December 8, 2017.

The apex bank also maintained its intervention for Small and Medium-Scale Enterprises (SMEs) & for Retail Invisibles transactions at $55.00mm each for both intervention.

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