The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

FMDQ market report

Related

Bola Onadele Koko, CEO of the fmdq otc securities exchange

Commentary on the Foreign Exchange (FX) market with data for the week-ended December 14, 2018.

▪ The Central Bank of Nigeria (CBN) intervened through its periodic injection of United States (US) Dollars in the FX market, offering a total of $210.00 million to the FX market via the Secondary Market Intervention Sales (SMIS) held on December 11, 2018.

The apex bank offered the sum of $100.00 million to the Wholesale segment and sold $55.00 million each to both the Small and Medium-scale Enterprises (SMEs) and Retail (Invisibles) transactions

▪ In the Investors’ & Exporters’ (I&E) FX Window, the total value of trades for the week ended December 7, 2018 was $1.26 billion, representing a 21.74% ($0.35 billion) increase on the $1.61 billion reported in the previous week ending November 30, 2018, bringing the year-to-date (YTD) value of trades at the window to $56.06 billion

▪ For the reporting week-ended December 14, 2018, the CBN official rate rose by ₦0.05 to close at $/₦306.90, indicating a 0.02% depreciation when compared to $/₦306.85 recorded the previous week-ended December 7, 2018

▪ In the Bureau de Change (BDC) market, the exchange rate fell by ₦1.00 to close at $/₦365.00, indicating a 0.27% appreciation when compared to $/₦366.00 recorded the previous week -ended December 7, 2018

▪ For the week-ended December 14, 2018, the Naira appreciated at the I&E FX Window, gaining ₦0.10 to close at $/₦365.23 when compared to $/₦365.33 recorded the previous week, resulting in a spread of $/₦0.23 between the BDC market rate and I&E FX Window rate

▪The spread between the BDC market rate and the CBN official exchange rate fell by ₦1.05 to close at $/₦58.10, indicating a 1.78% decrease from the $/₦59.15 recorded in the previous week

▪ In the FX Futures market, $165.47 million worth of OTC FX Futures contracts were traded in twenty-five (25) deals, compared to the total for the previous week-ended December 7, 2018 of $203.41 million traded in eighteen (18) deals

Dealing Member-Client Spot FX Market Turnover Report

For the week ended December7,2018, trading activities in the SpotFX market between the DMBs and their clients stood at $1,509.65 million (average daily turnover of $301.93 million), representing a decrease of 16.71% when compared to the $1,812.46 million (average daily turnover of $362.49 million), recorded the week-ended November 30, 2018

▪A review of trading activities in the Spot FX market amongst banks for the week-ended December

7, 2018, revealed an increase of 92.61%, as a total turnover of $522.95 million (average daily turnover of $104.59 million) was recorded, against $271.51 million (average daily turnover of $54.30 million) reported the week-ended November 30, 2018.


Receive News Alerts on Whatsapp: +2348136370421

No comments yet