At 11:30 Beirut time, the Euro was quoted at $/€ 1.1113, the equivalent of €/LBP 1,675.28, depreciating against the US Dollar by 0.04% from Tuesday’s close.
The Euro’s downtick today is probably linked to the spreading talks regarding the potential extension of the Eurozone’s monetary stimulus program. However, the Federal Reserve’s decision on interest rates’ hike remains a key barometer of the exchange rate performance.
Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 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 0.25% to 167.54 today.
| Foreign Exchange Market | Last Price | Previous | Change | Y-t-D |
| $/LBP | 1,510.00 | 1,510.00 | – | |
| €/LBP | 1,675.28 | 1,676.04 | -0.04% | |
| £/LBP | 2,309.64 | 2,315.82 | -0.27% | |
| NEER | 167.54 | 167.12 | 0.25% | 13.72% |