At 12:30 Beirut time, the Euro was quoted at €/$ 1.1156, the equivalent of €/LBP 1,681.77, appreciating by 0.23% against the US Dollar. The euro went up against the dollar today as investors were positively impacted by the better than expected German PMI that hit the 52.5 points. The exchange rate is expected to keep on fluctuating ahead of the ECB’s decision tomorrow regarding the Eurozone’s monetary policy.
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 remained constant as reflected by the NEER, published by BLOMINVEST, which kept its previous value at 167.22 points today.
Date: 1 June 2016