At 14:15 Beirut time, the Euro was quoted at €/$ 1.0992, the equivalent of €/LBP 1,657.04, depreciating by 0.31% against the US Dollar. The euro went down against the dollar today after the release of the German IFO indicator measuring business sentiment, which revealed the sharpest drop since 2011. In details, the IFO index fell to 98.8 in February, down from 102.3 in the previous month.
Locally, the Lebanese Pound remained steady against the Dollar standing at $/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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.07% uptick to 168.57 points today.
Date: 23 February 2016