Fixed Income, Currency Turnover Tumbles 24% in July

0
206

• FX, TBills major drivers of FIC market at 74.26%
Bamidele Famoofo

An unprecedented disruption was recorded in the activities of the Fixed Income and Currency (FIC) market in the month of July as month-on-month turnover plunged about 24 per cent.

Turnover for the period ended July 31, 2018 as reported by FMDQ OTC Securities stood at N13.09trillion compared to N17.23trillion in June, representing a 23.99 percent or N4.13trillion month-on-month (MoM) decline. Notwithstanding the sharp drop, activities in the market remained upbeat as 13.53 per cent (N1.56trillion) increase on year-on-year (YoY) basis was recorded in the review period.

Month on month, turnover largely declined across all segments of the FIC market, excluding the repurchase agreement/buy-backs market which recorded a 5.22 percent (N0.12trn) MoM increase in July.

Reacting…



Read More…..Thisday Newspapers