The FMDQ OTC Securities Exchange recorded transactions worth N9.43 trillion in April in fixed income and currency movements, the firm’s monthly report released on Tuesday in Lagos said.
Report indicated that the April transactions were higher by 9.86 per cent or N0.85 trillion over the N6.57 trillion the company posted in March.
An analysis of the report showed that foreign exchange transactions accounted for 16.69 per cent of the total activities of the firm during the period compared with 18.67 per cent it was in March.
The company’s turnover in the Fixed Income Market (FIM) settled at ₦4.85 trillion, representing 17.35 per cent increase from N4.13 trillion recorded in March.
The report said that transactions in Treasury Bills continued its dominance in fixed income market, accounting for 81.72 per cent of the turnover when compared with 78.21 per cent recorded in March.
It added that during the period, secured money market (repurchase agreements/buy-backs) and Federal Government’s bonds transactions accounted for 30.47 per cent against 30.74 per cent in the preceding month.
The report stated that unsecured placements and takings contributed 1.39 per cent to the total turnover in contrast with 2.40 per cent achieved in March.
Transactions in the foreign exchange market settled at 6.10 billion dollars, a 6.99 per cent drop from the 6.56 million dollars recorded in March.
It stated that member-member trades recorded 710 million dollars in turnover for April, against 590 million dollars recorded in March, indicating an increase of 19.36 per cent.
The report further stated that the Central Bank of Nigeria (CBN) exchange rate remained at ₦196 per dollar, and that the Naira opened the month at ₦199.06 per dollar in the inter-bank market.
It said that rates in the parallel market averaged ₦318.94 per dollar during the period.
