• Thursday, June 13, 2024
businessday logo

BusinessDay

USD57 million traded on FX future market since Monday opening

dollars-n-nigeria-naira-cash

Since the opening of the naira-settled FX futures on Monday, trade worth $57 million has been carried out in the market. This was disclosed by Dipo Odeyemi, Senior Vice President and Divisional Head Operations and Technology at the FMDQ OTC Securities Exchange.
According to Odeyemi, a breakdown of the transactions shows that on Wednesday the sum of $30 million in trade was carried out; $8.8 million on Thursday and on Friday about $19 million was traded.
“Of this $57 million that were traded, we can say that about $34 million were from foreign portfolio investors.
We are beginning to see the market open up to foreign portfolio investors and we are seeing some very good interest in futures market,” said Odeyemi.

Details coming shortly…..