By Quantitative Financial Analytics
The FMDQ NIFEX Spot increased by N0.25 or 0.08% ending the day at a rate of N315.5 against the previous day’s rate of N315.25
Open Interest and Volume Analysis
Open interest in currency futures increased by 0.59%, (22.17) from 3,746.39 to 3,748.56 arising from additional notional purchases.
Mark to Market Analysis and Attribution
The estimated Mark to Market (MTM) of open interest now stands at N206.78 billion, an increase of 0.74%, (N1.52 billion) over previous day’s Mark to Market value of N205.25 billion. Change in MTM is mostly attributed almost equally to the change in NIFEX rate which contributed +N0.62 billion to the change while the effect of additional national purchases gave rise to +N0.9 billion change in MTM
Next futures in line on the maturity continuum is the NGUS NOV 23 2016 with current notional of $403.22 million and maturity date of November 23, 2016. If this was to mature today, the short position holder will pay N11.87 billion.
more recommended stories
Court Orders Abia Govt to Reduce Taxes Paid by Traders
By Dipo Olowookere Traders in Abia.
Nigerian Stock Market Loses N416b in One Week amid Political Anxiety
By Dipo Olowookere The heating up.
Shareholder Drags Continental Reinsurance CEO to Court
By Dipo Olowookere Managing Director of.
Expert Suggests Outright Sale of Public Assets to Reduce Govt Burden
By Dipo Olowookere An economic expert.