{"id":1426,"date":"2026-07-28T16:44:27","date_gmt":"2026-07-28T16:44:27","guid":{"rendered":"https:\/\/kufmtv.net\/?p=1426"},"modified":"2026-07-28T16:44:43","modified_gmt":"2026-07-28T16:44:43","slug":"nigerias-fx-market-hits-record-4-4-billion-amid-mystery-deals","status":"publish","type":"post","link":"https:\/\/kufmtv.net\/index.php\/2026\/07\/28\/nigerias-fx-market-hits-record-4-4-billion-amid-mystery-deals\/","title":{"rendered":"NIGERIA’S FX MARKET HITS RECORD $4.4 BILLION AMID MYSTERY DEALS"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Nigeria’s foreign exchange market crossed the $4 billion mark for the first time in 2026, with weekly turnover surging 83% to $4.375 billion in the week ended July 24.<\/p>\n\n\n\n

The figure is up sharply from $2.386 billion the previous week, according to the latest FMDQ Exchange report.<\/p>\n\n\n\n

Spot transactions accounted for $4.312 billion of the total, while forward contracts jumped over 333% to $62.87 million.<\/p>\n\n\n\n

An industry insider linked the surge to Dangote Refinery’s brief policy of pricing petroleum products in dollars, a move that was reversed after about a week.<\/p>\n\n\n\n

Financial analyst Tajudeen Olayinka said the scale of the jump suggests a large, one-off transaction, possibly from foreign portfolio investors.<\/p>\n\n\n\n

He added that the rise in both spot and forward activity points to investors executing trades while simultaneously hedging against future currency risk.<\/p>\n\n\n\n

The Nigerian Foreign Exchange Market has recorded more than $46 billion in cumulative turnover between March and June 2026, with spot transactions consistently dominating weekly activity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria’s foreign exchange market crossed the $4 billion mark for the first time in 2026, with weekly turnover surging 83% 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News<\/a>","rttpg_excerpt":"Nigeria’s foreign exchange market crossed the $4 billion mark for the first time in 2026, with weekly turnover surging 83% 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