According to data from the FMDQ OTC Securities Exchange, in the month of April, Investors traded N14.94 trillion in the fixed income and currency (FIC) markets.
Treasury bills, on the other hand, accounted for 45.8% of the market, making it the most traded securities on the platform. It was followed by foreign exchange (FX) market, money market securities which accounted for 36.6% and 11.1% respectively.
Although the N14.94 trillion traded in April was 4.5% lower than what was invested in March, the turnover showed a year-on-year increase of 69.8% above the N8.8 trillion traded last April.
The Fixed Income Market in April showed that turnover settled at N7.7 trillion, indicating 15.2% increase from March. Treasury bills market accounted for 88.2% of the overall fixed income market, an increase from 82.8% recorded in March.
Transactions in the FX market decreased by 11.8% to settle at $16.47 billion in April from $18.67 billion recorded in March.
For the month under review, the Naira at the Investors’ and Exporters’ (I&E) window, closed at N360.51 in April from N360.20 per dollar posted at the end of March. The total value of dollars traded on the I&E FX window in April decreased by 21.78% to settle at $4.74 billion compared with $6.06 billion in recorded March.
Inter-member trades decreased by 8.71% from $2 billion in the month of March, compared to $1.82 billion in April, while member-client trades stood at $10.82 billion, a decrease of 1.44 percent from the previous month’s $10.98 billion.
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