Euro Continued its Bullish Movement vs the Dollar on Tuesday

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1387, the equivalent of €/LBP 1,716.59, appreciating against the US Dollar by 0.28% from Monday’s close.

Investors might be in a “wait and see” mode regarding the Dollar as market watchers are awaiting the Federal Reserve meeting that will convene on the 26th/27th of October.  Furthermore, the German ZEW monthly report, which provides an insight to economic outlook of Germany for the next six months will be released soon and 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 improved as reflected by the NEER, published by BLOMINVEST, which ticked up by 0.07% to 166.18 today.

Foreign Exchange MarketLast PricePrevious ChangeY-t-D
$/LBP1,512.001,512.00 –
€/LBP1,716.591,711.770.28%
£/LBP2,300.602,313.11-0.54%
 NEER166.18166.070.07%12.79%

 

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