The Euro Failed to Keep its 1.10 Level Against the dollar on Monday

At 11:30 Beirut time, the Euro was quoted at €/$ 1.0953, the equivalent of €/LBP 1,651.16, depreciating by 0.48% against the US Dollar. The euro went down against the dollar today after the release of disappointing German Factory Orders for the month of January. As a matter of fact, data showed that the orders for factories in Europe’s largest economy fell by 0.1% in January as global slowdown is still weighing on the economy.

Locally, the Lebanese Pound depreciated against the Dollar to $/LP 1,514-1,514.25 with a mid-price of $/LP 1,514.13 compared to Friday’s $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514.

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 0.04% uptick to 168.31 points today.

The Euro Failed to Keep its 1.10 Level Against the dollar on Monday

Date: 07 March 2016
 

 

 

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