At 12:30 Beirut time, the Euro was quoted at €/$ 1.0637, the equivalent of €/LBP 1,603.53, depreciating against the US Dollar by 0.63% from Friday’s close.
The euro continues to fall against the dollar on account of diverging monetary policies: In Europe, further monetary stimulus is expected to boost economic growth and inflation while in the US anticipations are steered towards a December rate-hike.
Locally, the Lebanese Pound appreciated versus the Dollar going from $/LP 1,512.5-1,514.5 with a mid-price of $/LP1,513.5 to $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.
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 gained 0.23% to 168.97 points today.
Last Price | Previous | % Change | Y-t-D | |
$/LBP | 1,512.50 | 1,513.50 | -0.07% | |
€/LBP | 1,603.53 | 1,613.63 | -0.63% | |
£/LBP | 2,279.79 | 2,307.38 | -1.20% | |
NEER | 168.97 | 168.59 | 0.23% | 14.69% |