At 12:30 Beirut time, the Euro was quoted at €/$ 1.0941, the equivalent of €/LBP 1,649.36, appreciating against the US Dollar by 0.13%.
The Euro progressed vs the Dollar mainly due to the uncertainties regarding the Fed’s rate hike decision that will come out today at 21:30 Beirut time. Furthermore, the French and German manufacturing figures will be released soon and which may affect the Euro/Dollar exchange.
Locally, the Lebanese Pound steadied versus the Dollar at a quote of $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound increased as reflected by the NEER, published by BLOMINVEST, which gained 0.74% to 172.42 points today.
