At 11:30 Beirut time, the Euro was quoted at $/€ 1.1044, the equivalent of €/LBP 1,664.88, depreciating against the US Dollar by 0.11% from Monday’s close.
The euro weakened vs the “greenback”, despite the Fed’s meeting which is scheduled on the 28th of October, to determine whether interest rate hike will take place or not. Draghi’s speech last week is probably still impacting investors’ attitude.
Locally, the Lebanese Pound steadied versus Dollar at LP/$ 1,5010-1,514 with a mid-price of LP/$ 1,512.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound relatively steadied as reflected by the NEER, published by BLOMINVEST, which ticked up by 0.08% to 167.28 today.
| Foreign Exchange Market | Last Price | Previous | Change | Y-t-D |
| $/LBP | 1,512.00 | 1,512.00 | – | |
| €/LBP | 1,664.88 | 1,666.69 | -0.11% | |
| £/LBP | 2,309.79 | 2,313.86 | -0.18% | |
| NEER | 167.28 | 167.15 | 0.08% | 13.54% |