FX market turnover drops by 32% amid reforms

Foreign exchange market turnover in Nigeria declined by 32.28 per cent in December 2024, falling to $9.74bn from the $14.39bn recorded in November. This drop, highlighted in the FMDQ Exchange’s December Financial Markets Monthly Report, reflects the impact of ongoing foreign exchange market reforms and broader liquidity challenges. The month-on-month decline of $4.64bn in FX

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