At 11:20 Beirut time, the Euro was quoted at €/$ 1.1386, the equivalent of €/LBP 1,716.44, appreciating by 0.10% against the US Dollar. The euro went up against the dollar today as investors believe the risk environment will not be positive enough in the second quarter to allow the Fed’s rates to hike, implying that US yields will remain at current low levels.
Locally, the Dollar remained unchanged against the Lebanese Pound at the quote of $/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 depreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.10% downtick to 166.28 points today.
Date: 8 April 2016