By Quantitative Financial Analytics
The FMDQ NIFEX Spot increased by N1.75 or 0.55% ending the day at a rate of N319.25. against the previous day’s rate of N317.5.
Open Interest and Volume Analysis
Open interest in currency futures increased by 0.32%, (11.1) from 3,471.26 to 3,482.36 arising from additional notional purchases of $11.1.
Mark to Market Analysis and Attribution
The estimated Mark to Market (MTM) of open interest now stands at N206.32 billion, an increase of 3.38%, (N6.76 billion) over previous day’s Mark to Market value of N199.567 billion. The increase in MTM is mostly due to the rate increase which contributed +N5.94 billion to the change while the additional purchases gave rise to +N0.811 billion change in MTM.
Next futures in line on the maturity continuum is the NGUS NOV 23 2016 with current notional of $382 million and maturity date of November 23,2016. If this was to mature today, the short position holder will pay N13.02 billion.
more recommended stories
These 21 Firms Still Remain Suspended on Nigerian Stock Exchange
By Dipo Olowookere A total of.
CBN Postpones MPC Meeting to November 21
By Dipo Olowookere The Central Bank.
Naira Falls at Forex Market as External Reserves Drop to $41.6b
By Dipo Olowookere The local currency.
Asian Shares Close Mixed on Cautious Trading
By Investors Hub Asian stocks ended.