ga('send', 'pageview');

Naira Settled Currency Futures Open Interest Report @November 3, 2016


By Quantitative Financial Analytics


The FMDQ NIFEX Spot increased by N2.8 or 0.69% ending the day at a rate of N318 against the previous day’s rate of N315.8188 as the Naira ends its gaining streak on the Dollar.

Open Interest and Volume Analysis

Open interest in currency futures increased by 0.1%, (3.66) from 3,566.47 to 3,570.13 arising from additional notional purchases.

ALSO READ  Ngige Wants Special Fund for Employment from AfDB

Mark to Market Analysis and Attribution

The estimated Mark to Market (MTM) of open interest now stands at N207.2 billion, an increase of 4%, (N7.97 billion) over previous day’s Mark to Market value of N199.22 billion. The increase in MTM is mostly due to the rate change which contributed +N0.196 billion to the change while the additional purchases gave rise to +N3.7 billion change in MTM

ALSO READ  WAIPEC 2017 Unveils Programme Overview


Next futures in line on the maturity continuum is the NGUS NOV 23 2016 with current notional of $394.6 million and maturity date of November 23,2016. If this was to mature today, the short position holder will pay N12.5 billion.

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: