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Market Recap (15th - 19th January, 2024)

1 month ago   MARKET NEWS   Lagos   565 views Reference: 293

Location: Lagos

**Weekly Market Recap and Forecast:**

This is the market recap for the week in view:

**USD Exchange Rates:**

- Opened at N1,270 (buying) and N1,280 (selling).

- Closed the week at N1,350/N1,362.

**Euro Exchange Rates:**

- Started at N1,360 (buying) and N1,380 (selling).

- Closed at N1,450/N1,468.

**Pound Exchange Rates:**

- Began at N1,580 (buying) and N1,605 (selling).

- Closed at N1,680/N1,700.


- USD showed moderate gains with a closing range indicating stability.

- Euro remained steady, closing with a slight upward momentum.

- Pound demonstrated a gradual uptrend, potentially influenced by economic indicators.

**Forecast for Next Week:**

- USD: Anticipate a range of N1,320-N1,385 (buying) and N1,355-N1,420 (selling).

- Euro: Expected range of N1,410-N1,455 (buying) and N1,460-N1,500 (selling).

- Pound: Foreseen range of N1,620-N1,685 (buying) and N1,690-N1,800 (selling).

Forecasts are subject to market conditions and may vary based on unforeseen events.*