Euro Appreciates vs the Dollar for the Second Day Running

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1331, the equivalent of €/LBP 1,708.15, appreciating against the US Dollar by 0.47% from Thursday’s close.

Better than expected jobless claims in the U.S. for September couldn’t support the Dollar mainly due to the latest Federal Reserve minutes to meeting, which was released on Thursday. The report mainly illustrated the dovish attitude of the Fed during the meeting on September 17th.

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 0.15% to 166.22 today.

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