LAGOS — Total turnover in Nigeria's foreign exchange market fell by 22.23 per cent to $2.62 billion in the week ended 16 October 2026, from $3.37 billion the previous week, according to data from FMDQ. Spot transactions dropped 19.83 per cent to $2.60 billion and made up 99.05 per cent of all activity, with an average of $519.16 million traded per day. Forward contracts fell by 81.14 per cent and accounted for less than one per cent of turnover. Average daily turnover across the market declined to $524.14 million from $673.97 million in the week ended 9 October.