Poor Data in the U.S. Holds back the Dollar Today

At 15:30 Beirut time, the Euro was quoted at $/€ 1.1226, the equivalent of €/LBP 1,692.32, appreciating against the US Dollar by 0.37% from Monday’s close.

The Dollar waned versus the euro following the latest ISM (Service Sector Index) data, which illustrated a sluggish expansion in the U.S. service sector in September. Expected European factory orders coupled with the upcoming speech of Draghi might affect the Euro/Dollar exchange rate.

Locally, the Lebanese Pound steadied versus Dollar at LP/$ 1,510-1,514 with a mid-price of LP/$ 1,512.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound declined as reflected by the NEER, published by BLOMINVEST, which ticked down by 0.02% to 166.95 today.

Foreign Exchange MarketLast PricePrevious ChangeY-t-D
$/LBP1,512.001,512.00 –
€/LBP1,692.321,686.140.37%
£/LBP2,285.822,282.810.13%
 NEER166.95166.99-0.02%13.32%

 

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