ga('send', 'pageview');

Naira Settled Currency Futures Open Interest Report @ November 28, 2016


By Quantitative Financial Analytics


The FMDQ NIFEX Spot gained increased by 0.08% or N0.25 to end the day at N315.125 against the previous day’s close of N314.875 as the Naira continues to struggle against the Dollar.

Open Interest and Volume Analysis

Open interest in currency futures increased by 1.01% from 3,625.9 to 3,662.43 following additional notional purchases of $36.53 million involving 5 of the 12 currency futures.

ALSO READ  NSE Trades N11.5b Shares in One Week as 27 Stocks Fall

Mark to Market Analysis and Attribution

Mark to Market increased by N2.52 billion or 1.22% as the estimated Mark to Market (MTM) of open interest now stands at N209.99 billion, against previous day’s Mark to Market value of N207.47 billion. The Change in MTM is attributed mostly to the new positions which contributed+N1.62 billion while rate change effect accounted +N0.91 billion

ALSO READ  Naira Gains 26 kobo at I&E to Quote at N363.74/$


The next futures in line on the maturity continuum is the NGUS DEC 21 2016 with current notional of $475.57 million and maturity date of December 21, 2016. If this were to mature today, the short position holders would have paid a cumulative total of N15.53 billion.

Related Articles

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

more recommended stories

%d bloggers like this: