National Wire About Nigerians, Nigerian Business and Other Stories
Trading on the floor of the Financial Markets Dealers Quotations, FMDQ, securities exchange, in November saw turnover recording an increase of 21.92 percent to close the month at ₦14.85 trillion.
Activities rise in the securities exchange for the month under consideration amounts to ₦2.67 trillion increase from the value recorded in October 2017.
A further x-ray of trading in the month under review showed that, Treasury bills’ transactions accounted for 37.81% of total turnover while FGN bonds accounted for 5.35%.
In the same period, Money Market and Foreign Exchange (FX) market activities accounted for 24.54% and 32.27% of total turnover respectively.
The value of transactions in the FX Market increased by 8.78% ($1.22bn) month-on-month. Liquidity flows through theI&E FX Window equally increased as total volumes traded for the month settled at $4.51billion, an increase of 4.88% ($0.21bn) from the previous month.
The cumulative volumes traded in the Window since its inception stands at $22.37 billion as at the reporting date. Exchange rates for the Naira traded relatively flat, as the Investors’ & Exporters’ (I&E) FX Window depreciated slightly to close the reporting month at $/₦360.65, whilst trading at a discount to the Parallel Market which closed the month at $/₦364.00.
