Trading activity in the Nigerian foreign exchange market saw a significant rebound for the week ended October 9, 2026, with total dollar turnover nearly doubling to $3.37 billion, up from $1.70 billion the previous week. Data from FMDQ indicates that spot transactions, which surged 98% to $3.24 billion, drove the bulk of this activity. While forward transactions also doubled to $131.95 million, they remain a small fraction of the total market volume. Market analysts caution that while the increase in turnover marks a return to September levels, it does not inherently guarantee greater naira stability or improved long-term dollar liquidity, as sustainability depends on the consistency of underlying foreign and domestic inflows.