Dollar Gained Against the Euro on FED Comments

At 12:00 Beirut time, the Euro was quoted at €/$ 1.1180, the equivalent of €/LBP 1,685.39, depreciating by 0.37% against the US Dollar. The euro fell against the dollar today after Federal Reserve official made a statement yesterday regarding monetary policy. The Fed’s official indicated that one or two more interest rate hikes could take place by 2017.

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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.14% uptick to 167.12 points today.

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Date: 24 May 2016
 

 

 

 

 

 

 

 

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