Dollar Supported by Strong U.S. Data Today

At 15:30 Beirut time, the Euro was quoted at €/$ 1.0885, the equivalent of €/LBP 1,640.91, depreciating against the US Dollar by 0.38%.

The Euro illustrated some losses against the Dollar today, mainly on the back of the latest positive Non-Farm Payrolls (NFP) data that was released in the U.S. In hindsight, the U.S. economy received uplift, following an NFP figure of 292K in December, which was stronger than expected.  

Locally, the Lebanese Pound steadied versus the Dollar at $/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 ticked up by 0.07% to 169.04 points today.

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