At 12:00 Beirut time, the Euro was quoted at €/$ 1.1362, the equivalent of €/LBP 1,712.82, appreciating by 0.03% against the US Dollar. The dollar lost momentum against the euro today as weaker than expected U.S housing data were released. Weak housing data dialed back expectations for interest rate hikes in the near future.
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 166.15 points today.
Date: 20 April 2016