At 16:15 Beirut time, the Euro was quoted at €/$ 1.1200, the equivalent of €/LBP 1,688.40, appreciating by 0.86% against the US Dollar.
The Euro increased as the dollar extended its losses after weak US service sector data raising concerns on the Fed’s ability to raise interest rates in 2016.
Locally, the Lebanese Pound remained unchanged against the Dollar going at $/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 decreased as reflected by the NEER, published by BLOMINVEST, which registered a 0.79% drop to 167.62 points today.
Date: 04 February 2016
