Euro Still Below the 1.12 Mark Despite Today’s Uptick

At 16:15 Beirut time, the Euro was quoted at €/$ 1.1175, the equivalent of €/LBP 1,684.63, appreciating by 0.18% against the US Dollar. The euro edged higher on Tuesday as investors’ appetite for risk was subdued on Tuesday on account of new downturns in oil prices and in European shares. After earlier gains, oil prices dropped  following Russia and Saudi Arabia’s failure to agree on cutting oil output. 

Locally, the Lebanese Pound depreciated against the Dollar standing at $/LP 1,513.5-1,514 with a mid-price of $/LP 1,513.75 compared to yesterday’s $/LP 1,513-1,514 with a mid-price of $/LP 1,513.50.

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 0.12% uptick to 167.94 points today.

Date: 16 February 2016

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