At 14:05 Beirut time, the Euro was quoted at €/$ 1.1121, the equivalent of €/LBP 1,676.49, depreciating by 0.76% against the US Dollar.
Reaching its lowest level since February 2008, the U.S unemployment rate stood behind the dollar’s upturn today. However, investors will mostly await the upcoming statements of Yellen, later this week, regarding the Federal Reserve’s interest rate policy.
Locally, the Lebanese Pound steadied against the Dollar standing at $/LP 1,513-1,514 with a mid-price of $/LP 1,513.50.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.24% rise to 168.16 points today.
Date: 08 February 2016
