Market Recap (22nd - 26th January, 2024)
7 months ago MARKET NEWS Lagos 712 views Reference: 295
Location: Lagos
**Weekly Market Recap and Forecast:**
This is the market recap for the week in view:
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**USD Exchange Rates:**
- Opened at N1,350 (buying) and N1,362 (selling).
- Closed the week at N1,413/N1,423.
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**Euro Exchange Rates:**
- Started at N1,440 (buying) and N1,464 (selling).
- Closed at N1,500/N1,525.
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**Pound Exchange Rates:**
- Began at N1,670 (buying) and N1,690 (selling).
- Closed at N1,775/N1,803.
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**Insights:**
- USD showed strong gains with a closing range consolidating above the
N1,400 mark.
- The Euro maintained its stamina, closing with a slight upward momentum.
- Pound demonstrated a gradual uptrend, potentially influenced by strong
fundamental indicators.
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**Forecast for Next Week:**
- USD: Anticipate a range of N1,360-N1,400 (buying) and N1,380-N1,480 (selling).
- Euro: Expected range of N1,440-N1,490 (buying) and N1,500-N1,570 (selling).
- Pound: Foreseen range of N1,680-N1,750 (buying) and N1,750-N1,900 (selling).
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*Note: Forecasts are subject to market conditions and may vary based on unforeseen events.*
