Connect with us


FMDQ Post N18.72tn Turnover In July



Parthian Partners Limited

Turnover in the Fixed Income and Currency (FIC) markets for the month ended July 30, 2020 was N18.72 trillion, indicating a month-on-month (MoM) increase of 13.66 per cent (N2.25 trillion) from the turnover recorded in June 2020 (16.47 trillion).

This represents a year-onyear (YoY) decrease of 14.43 per cent (N2.36 trillion) from the turnover recorded in July 2019 (N16.36 trillion). As at July 29, 2020, YTD turnover was N136.00 trillion, representing a YoY increase of 0.30 per cent (N0.41 trillion) on the YTD turnover of N135.58 trillion recorded in July 2019.

OMO bills and money market transactions (Repurchase Agreements [Repos] & Unsecured Placements/Takings) remained the highest contributors to the FIC markets in July 2020, jointly accounting for 60.16per cent of the total FIC market turnover.

Total FX market turnover in July 2020 was $10.82 billion (N4.20 trillion), representing a MoM increase of 25.38 per cent ($2.19 billion) from the turnover recorded in June 2020 $8.63 billion (N3.34 trillion).

Analysis of FX market turnover indicates that FX Derivatives accounted for 70.32 per cent ($1.54 billion) of the total MoM increase in FX market turnover in July 2020.

In the OTC FX Futures market, the near month contract5 (NGUS JUL 29 2020) with a total outstanding notional value of $1.37 billion matured and was settled, whilst a new    long-term (60-month) contract, NGUS JUL 30 2025 was introduced at a rate of $/N581.52.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You have not selected any currencies to display