The secondary market turnover on FMDQ Securities Exchange for the month ended July 2022 was N19.76trillion.
The record market turnover in July represents a month-on-month (MoM) increase of 8.54percent (N1.55trillion) and year-on-year (YoY) increase of 16.45percent (N2.79 trillion) from turnover in June 2022 and July 2021 respectively
According to recently released FMDQ markets monthly report, the total turnover for Spot and Derivatives Market was N17.53trillion and N2.23trillion respectively in July 2022.
Read also: Nigeria’s Fixed Income, Currencies Markets turnover up 29.9% to N20.54trn
Spot FX market turnover was N3.16trillion ($7.40billion) in July 2022, representing a MoM increase of 5.68percent (N170billion) from the turnover recorded in June 2022 (N2.99trillion).
In the review month, the Naira depreciated further against the US Dollar in the FX market, with the exchange rate ($/N) increasing by 1.43percent ($/N6.03) to close at an average of $/N427.01 in July 2022 from $/N420.98 recorded in June 2022, trading within a range of $/N424.17 – $/N431.
In the Derivatives Market, total turnover in the FX Market segment was N2.23trillion ($5.20billion), representing a MoM increase of 10.95percent (N220billion) from June 2022.
