Nigeria’s FX market continues to show signs of recovery as seen in the turnover in the Spot FX market between Authorised Dealers (banks) and their clients.
In the week ended September 2, 2016, the spot FX market showed a 100.34% increase when compared to turnover in the preceding week.
Spot FX market turnover between banks and their clients stood at approximately$1.16 billion, a daily average of turnover of $232.05mm, for this period as the Authorised Dealers previously suspended from the inter-bank FX market resumed trading.