TURNOVER in the fixed income and currency market has risen by 41.9 percent following re-allocation of funds from the equities market to more secured asset classes.
Specifically, N23.21 trillion turnover was recorded in the fixed income and currency market in August compared to N16.36 trillion recorded in July, representing 41.87 percent month-on-month increase.
Meanwhile, breakdown of transactions in the fixed income market last month showed that foreign exchange, FX, and Treasury Bills, TBs, was investors toast as they remained the major contributors to turnover in the market. FX instruments and TBs contributed 40.17 percent and 39.2 percent to the total fixed income market turnover respectively, while Repurchase Agreement/Buy-backs accounted for 14.72 percent of the total turnover.
FGN Bonds, other bonds and unsecured placements/Taking accounted for the remaining 5.91 percent of the total turnover during the period.All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from