At 11:30 Beirut time, the Euro was quoted at $/€ 1.1293, the equivalent of €/LBP 1,702.42, appreciating against the US Dollar by 0.49% from Wednesday’s close.
Despite a 5.2% drop in German exports in August this year, the Euro managed to improve versus the “greenback”. This coule be further explained by investors awaiting the outcomes of the upcoming ECB and Fed meetings, which will remain the barometers of the Euro/Dollar exchange rate performance over the coming period.
Locally, the Lebanese Pound steadied versus Dollar at LP/$ 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 0.11% to 166.47 today.
| Foreign Exchange Market | Last Price | Previous | % Change | Y-t-D |
| $/LBP | 1,512.00 | 1,512.00 | – | |
| €/LBP | 1,702.42 | 1,694.13 | 0.49% | |
| £/LBP | 2,309.19 | 2,309.19 | – | |
| NEER | 166.47 | 166.65 | -0.11% | 12.99% |