By Quantitative Financial Analytics
The FMDQ NIFEX Spot decreased by N0.63 or 0.2% ending the day at a rate of N317 against the previous day’s rate of N318.125.
Open Interest and Volume Analysis
Open interest in currency futures increased by 0.9%, (31.1) from 3,440.26 to 3,471.36 arising from additional notional purchases of $31.1 Source: Quantitative Financial Analytics
Mark to Market Analysis and Attribution
The estimated Mark to Market (MTM) of open interest now stands at N199.567 billion, a decrease of 0.4%, (N0.79 billion) over previous day’s Mark to Market value of N200.36 billion. The decrease in MTM is due to the rate increase which contributed -N2.55 billion to the change while the additional purchases gave rise to +N1.76 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 N12.313 billion.
more recommended stories
Shareholders of GSK Nigeria Approve N7.10k Special Dividend
By Modupe Gbadeyanka Shareholders of GlaxoSmithKline.
Nigerian Stocks Remain Bearish for 6th Day, Lose 1.06%
By Modupe Gbadeyanka Activities on the.
Buhari Receives 2018 Budget Today
By Dipo Olowookere Barring any unforeseen.
Kachikwu, 8 Other Oil Ministers to Attend Africa Oil Week
By Dipo Olowookere Nine Energy and.