FMDQ weekly report
▪ In the Investors’ & Exporters’ (I&E) FX Window,the total value of trades for the week-ended April year-to-date (YTD) value of trades at the window to $25.76 billion week-ended April 26, 2019 ended April 26, 2019
spread of $/₦0.35 between the BDC market rate and I&E FX Window rate
▪ The Central Bank of Nigeria (CBN) intervened through its periodic supply of United States (US) dollars in the FX market, offering a total of $100.00 million to the Secondary Market Intervention Sales (SMIS) Wholesale window on April 30, 2019.
The apex bank also sold $55.00 million each to 26, 2019, closed at $1.29 billion, representing a decrease of 19.88% ($0.32 billion) when compared to the $1.61 billion reported in the previous week ending April 18, 2019, bringing the
▪ For the reporting week-ended May 3, 2019, the CBN official rate rose by ₦0.05 to close at $/₦306.95, indicating a 0.02% depreciation when compared to $/₦306.90 recorded the previous
▪ In the Bureau-de-Change (BDC) market, the exchange rate rose by ₦1.00 to close at $/₦361.00 representing, a 0.28% depreciation when compared to $/₦360.00 recorded in the previous week-
▪ For the week-ended May 3, 2019, the Naira depreciated at the I&E FX Window, losing ₦0.01 to close at $/₦360.65 when compared to $/₦360.64 recorded the previous week, resulting in a
▪ The spread between the BDC market rate and the CBN official exchange rate rose by ₦0.95 to close at $/₦54.05, indicating an increase of 1.79% from the $/₦53.10 recorded in the previous week
▪ In the OTC FX Futures market, $163.31 million worth of OTC FX Futures contracts were traded in fourteen (14) deals, compared to the total for the previous week-ended April 26, 2019 of $599.33 million traded in twenty-six (26) deals
Dealing Member-Client Spot FX Market Turnover Report
▪ For the week-ended April 26, 2019, trading activities in the Spot FX market between the DMBs and their clients stood at $1,915.77 million (average daily turnover of $478.94 million), representing an increase of 15.90% when compared to the $1,652.88 million (average daily.
2019, revealed an increase of 153.77%, as a total turnover of $587.80 million (average daily turnover of $146.95 million) was recorded, against $231.63 million (average daily turnover).
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