Dealing member-client spot FX market turnover report
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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