NGThe Nigerian foreign exchange market experienced a significant surge in turnover, rising 83.38% to $4.38 billion in the week ending July 24, 2026. This marked an increase of $1.99 billion compared to the previous week. The growth was attributed to heightened demand for foreign currency, regulatory clarity, and liquidity injections from the Central Bank of Nigeria's reforms. Key drivers included a sharp rise in FX Spot transactions and a substantial increase in FX Forwards turnover. FX Spot accounted for 98.56% of total turnover, while FX Forwards and Derivatives made up the remaining 1.44%. The average daily turnover rose from $477.16 million to $875.00 million.
Bias read (Center): The article presents factual data on the performance of Nigeria's foreign exchange market without overtly favoring any political ideology. It focuses on economic indicators, regulatory changes, and market trends, using neutral language and citing official reports from FMDQ. There is no evident slant
