At 13:51 am Beirut time, the Euro was quoted at €/$ 1.1333, the equivalent of €/LBP 1,708.45, depreciating by 0.28% against the US Dollar. The euro’s drop could be linked to Germany’s disappointing factory orders which dropped by 2% in April.
Locally, the Dollar mildly depreciated against the Lebanese Pound with exchange rate going from $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514 to $/LP 1,513-1,514 with a mid-price of $/LP 1,513.5.
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 0.56% downtick to 166.19 points today.
Date: 06 June 2016