Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Currency Futures Record Highest Daily Trading Volume so far in 2017

Uche Ndimele by Uche Ndimele
February 21, 2017
in Business News
CBN suspends forex sales to BDC operators till further notice
Share on FacebookShare on TwitterShare on Linkedin

Nairametrics| Trading volume in Nigerian Currency Futures Market recorded the highest daily trading volume on February 20, 2017 with 104.32 contracts changing hands by the end of the day. That is the highest daily trading since 2017. Trading in the currency futures market has been relatively dull in February until today. Before today’s trading surge, only 90.23 contracts were traded for the entire month of February, , an 8.2 daily average volume.

The surge was led by NGUS JAN 31 2018 which recorded 90.74 contracts, the highest daily trade on that contract since it was introduced as a replacement to NGUS JAN 25 2017. Per Currency Futures Transactional analysis and tracking by Quantitative Financial Analytics, the highest daily trading ever recorded was on August 1, 2016 when 347.69 contracts were traded followed by 272.58 contracts traded on August 29th 2016. Today’s high volume is therefore the 6th highest daily trading ever to be recorded in the currency futures market since being introduced in June 2016.

It is however not very apparent what led to the spike but it may not be unconnected with the upcoming anticipated price hike from the CBN following the maturity of the NGUS FEB 22 2017 currency future in two days’ time. It has been the character of the CBN to increase futures prices at the expiration or maturity of a futures contract.

RelatedPosts

The last speech delivered by HE Mohammad Sanusi Barkindo (RIP)

FCCPC to sanction DisCos for service failures, non-compliance with power sector rules

The recent free fall of the Nigeria versus the US Dollar and other hard currencies may also be responsible for the spike as investors strive to hedge their currency risk exposures with currency futures

Open interest in currency futures now stands at 4,033.01 contracts according to information on the FMDQ website.

 

Related

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • The last speech delivered by HE Mohammad Sanusi Barkindo (RIP)
    • FCCPC to sanction DisCos for service failures, non-compliance with power sector rules
    • Kuje prison attack: I am disappointed with intelligence system – Buhari

    Follow us on social media:

    Recent News

    Profile of Mohammed Sanusi Barkindo, the late OPEC secretary general

    The last speech delivered by HE Mohammad Sanusi Barkindo (RIP)

    July 6, 2022
    Babatunde Irukera

    FCCPC to sanction DisCos for service failures, non-compliance with power sector rules

    July 6, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com