At 11:30 Beirut time, the Euro was quoted at $/€ 1.1283, the equivalent of €/LBP 1,700.91, depreciating against the US Dollar by 0.19% from Friday’s close.
The Dollar was mainly boosted by the Federal Open Market Committee (FOMC) decision not to hike interest rates this month. However, this resolution was subsequently followed by the assurance of 3 Fed members that rates will be increased by the end of the year.
Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 1,508-1,512 with a mid-price of LP/$ 1,510.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound increased as reflected by the NEER, published by BLOMINVEST, which up ticked by 0.36% to 166.67 today.
| Foreign Exchange Market | Last Price | Previous | Change | Y-t-D |
| $/LBP | 1,510.00 | 1,510.00 | – | |
| €/LBP | 1,700.91 | 1,704.23 | -0.19% | |
| £/LBP | 2,338.43 | 2,341.30 | -0.12% | |
| NEER | 166.67 | 166.07 | 0.36% | 13.13% |