NAFEX Rate Closes Flat WoW

Forex
648 VIEWS
Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp
Proshare

Monday, November 15, 2021 07:00 AM / by FMDQ/ Header Image Credit: The Economic Times


Proshare Nigeria Pvt. Ltd.


Below is the commentary on the Foreign Exchange (FX) market with data for the week-ended November 12, 2021. The table following the commentary compares weekly turnover for trades between banks (FMDQ Dealing Member (Banks) [DMBs]/Authorised Dealers) and their clients for the weeks-ended November 5 & 12, 2021.

 

  • In the FX Spot and Derivatives markets, the total turnover for the week-ended November 12, 2021, was $750.79 million, representing a decrease of 11.91% ($101.50 million) from $852.29 million reported for the week-ended November 5, 2021. The week-on-week (WoW) decrease in total turnover was driven by the 50.44% ($209.62 million) decrease in FX Derivatives turnover. (See Table 1 below)

 

  • The WoW decrease in FX Derivatives turnover was driven by the 97.84% ($258.33 million) decrease in FX Futures turnover, despite the 32.14% ($48.71 million) increase in FX Forwards turnover

 

  • In the FX Spot market, the total value of transactions for the week-ended November 12, 2021, was $544.82 million, representing an increase of 24.76% ($108.12 million) from the value of transactions executed in the week-ended November 5, 2021 ($436.70 million)

 

     Table 1: Weekly FX Turnover Analysis

Proshare Nigeria Pvt. Ltd.


For the week-ended November 12, 2021, the average Nigerian Autonomous Foreign Exchange Fixing (NAFEX) remained unchanged at $/N413.62. (See Table 2 below)

 

Table 2: Weekly FX Rate Analysis

Proshare Nigeria Pvt. Ltd.

 three

  • In the FX Futures market, $3.90 million worth of FX Futures contracts were traded in two (2) deals, representing a WoW decrease of 98.40% ($239.37 million) when compared to $243.27 million FX Futures contracts traded in thirty-three (33) deals recorded in the week-ended November 5, 2021

 Proshare Nigeria Pvt. Ltd.


Related News

 1.     NAFEX Rate Appreciated by 0.69% WoW to N413.62 from N416.48

2.     NAFEX Rate Depreciated by 0.74% WoW to N416.48 from N413.43

3.     NAFEX Rate Depreciated Marginally by 0.01% WoW to N413.43 from N413.40

4.     NAFEX Rate Depreciated by 0.10% WoW to N413.40 from N412.98

5.     NAFEX Rate Depreciated by 0.13% WoW to N412.48 from N411.95

6.     NAFEX Rate Depreciated by 0.17% WoW to N411.95 from N411.25

7.     Naira Depreciated by 1.10% WoW in the Parallel Market at an Average Exchange Rate of N532.00

8.     IEFX Total Transaction Value Decreased by 4.86% to $629.34m

9.     Naira Depreciated at the Parallel Market by -0.54% WoW to N518.60 from N515.80

10. Naira Depreciated at the Parallel Market by -1.02% WoW to N515.80 from N510.60

11. NAFEX Rate Depreciated by -0.003% WoW to N411.17 from N411.16

12. Naira Appreciated by 0.23% WoW in the Parallel Market at an Average Exchange Rate of N510.80

13. Naira Depreciated by -2.40% WoW in the Parallel Market at an Average Exchange Rate of N512

14. IEFX Market Total Transactions Value Decreased by $325.65m WoW, Representing 49.86% Decline - FMDQ

15. FMDQ Foreign Exchange (FX) Market Analysis Report for Week-Ended July 16, 2021

16. FMDQ Foreign Exchange (FX) Market Analysis Report for Week-Ended July 9, 2021

17. FMDQ Foreign Exchange (FX) Market Analysis Report for Week-Ended July 2, 2021

18. Foreign Exchange (FX) Market Analysis for Week-Ended June 25, 2021

19. Foreign Exchange (FX) Market Analysis for Week-Ended June 18, 2021

20. Foreign Exchange (FX) Market Analysis for Week Ended June 11, 2021

21. Foreign Exchange (FX) Market Analysis for Week Ended June 4, 2021

 

 Proshare Nigeria Pvt. Ltd. 

 

 Proshare Nigeria Pvt. Ltd. 

READ MORE:
Related News
SCROLL TO TOP