Euro Strengthened vs the Dollar on the Back of Poor U.S. Data

At 11.30 Beirut time, the Euro was quoted at $/€ 1.1003, the equivalent of €/LBP 1,658.70, appreciating against the US Dollar by 0.25% from Thursday’s close.

The Euro partially recovered against the Dollar mainly due to weaker than expected GDP and housing figures in the U.S.

Locally, the Lebanese Pound steadied versus Dollar at LP/$ 1,5010-1,514 with a mid-price of LP/$ 1,512.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound declined as reflected by the NEER, published by BLOMINVEST, which ticked down by 0.11% to 167.57 today.