Weekly forex transactions fall by 25%, says FMDQ Exchange
The total foreign exchange transactions on FMDQ Securities Exchange fell by about 25 percent last week, according to official data obtained by Markets Reporters.
In the forex spot and derivatives markets, the total turnover for the week ended August 6, 2021 was $677.44 million, representing a decrease of 24.93 percent ($225.01 million) from $902.45 million reported for the previous week.
The week-on-week decrease in turnover was jointly driven by the 17.02 percent ($100.49 million) and 39.89 percent ($124.51 million) decrease in the forex spot and forex derivatives turnover, respectively, according to FMDQ.
It said the decrease in forex derivatives turnover was jointly driven by the 7.39 percent ($14.98 million) and 100.00 percent ($109.54 million) decrease in forex forwards and forex futures turnover respectively
Forex derivatives’ contribution to total forex market turnover dropped to 27.69 percent from the 34.58 percent recorded in the previous week.
In the Investors’ & Exporters’ forex market, the total value of transactions for the week was $489.85 million, representing a decrease of 17.02 percent ($100.49 million) from the value of transactions executed in the week ended July 30, 2021 ($590.34 million).