FMDQ FX Market Analysis Report for the Week-Ended September 18, 2026
Please see commentary below on the Foreign Exchange (FX) market with data for the week-ended September 18, 2026. Table 1 compares weekly turnover for trades between banks (FMDQ Dealing Member (Banks)/Authorised Dealers) and their clients for the weeks-ended September 11 and 18, 2026.
- In the FX Spot and Derivatives markets, the total turnover for the week-ended September 18, 2026, was $2,366.30 million, representing a decrease of 30.23% ($1,025.34 million) from the $3,391.64 million reported for the week-ended September 11, 2026.
- The week-on-week (WoW) decrease in total turnover was jointly driven by:
- A 21.06% ($624.13 million) decrease in FX Spot transactions, which recorded a total value of $2,339.52 million compared to $2,963.65 million in the previous week.
- A 93.74% ($401.21 million) decrease in FX Derivatives transactions (comprising FX Forward).
Table 1: Weekly FX Turnover Analysis
| Category | Week-ended September 18, 2026 | Week-ended September 11, 2026 | WoW Change | |||||
|---|---|---|---|---|---|---|---|---|
| Weekly ($'mm) | Daily Avg ($'mm) | % Share | Weekly ($'mm) | Daily Avg ($'mm) | % Share | % | ($'mm) | |
| FX Spot | 2,339.52 | 467.90 | 98.87 | 2,963.65 | 592.73 | 87.38 | (21.06) | (624.13) |
| FX Derivatives* | 26.78 | 5.36 | 1.13 | 427.99 | 85.60 | 12.62 | (93.74) | (401.21) |
| Total | 2,366.30 | 473.26 | 100.00 | 3,391.64 | 678.33 | 100.00 | (30.23) | (1,025.34) |
*Data represents FX Forwards turnover