The Euro’s Second Day Advance linked to Higher Euro-Area GDP

At 10:46 am Beirut time, the Euro was quoted at €/$ 1.1370, the equivalent of €/LBP 1,714.03, appreciating by 0.12% against the US Dollar.

The euro added to yesterday’s gains as GDP data indicated that the euro area grew by 0.6% in the first quarter of the year compared to a growth of 0.4% in the previous quarter.

Locally, the Dollar appreciated against the Lebanese Pound with the exchange rate moving from $/LP 1,513-1,514 with a mid-price of $/LP 1,513.5 to $/LP 1,513.5-1,514.5 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 witnessed a 0.06% downtick to 165.94 points today.

Date: 08 June 2016







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