At 11:30 Beirut time, the Euro was quoted at $/€ 1.1197, the equivalent of €/LBP 1,687.95, appreciating against the US Dollar by 0.10% from Monday’s close.
Despite today’s appreciation of the Euro, the Euro/Dollar exchange rate continued to be affected by the forecasts regarding whether US interest rates will be increased by the end of the year or not.
Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 1,508-1,512 with a mid-price of LP/$ 1,510.
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 up ticked by 0.27% to 167.12 today.
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