The secondary market turnover on FMDQ Exchange for the month ended November 30, 2022 was N15.58trillion, representing a month-on-month (MoM) increase of 15.06 percent (N2.04trillion) and year-on-year (YoY) decrease of 1.47percent (N230billion) from turnover in October 2022 and November 2021 respectively.
Total turnover for Spot and Derivatives Market was N12.54trillion and N3.04trillion respectively in November 2022.
Spot FX Market Turnover was N3.74trillion ($8.39billion) in November 2022, representing a MoM increase of 31.25percent (N890billion) from the turnover recorded in October 2022 (N2.85trillion).
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Further, the Naira depreciated against the US Dollar in the FX market, with the exchange rate ($/N) increasing by 1.07percent ($/N4.74) to close at an average of $/N445.76 in November 2022 from $/N441.02 recorded in October 2022, trading within a range of $/N444.70 – $/N446.67.
Similarly, in the Derivatives Market, total turnover in the FX Market segment was N3.04trillion ($6.82billion), representing a MoM increase of 51.82percent (percent1.04trillion) from October 2022 figures.
