The Euro Strengthened Against the Dollar Ahead of Yellen’s Speech

At 15:30 Beirut time, the Euro was quoted at $/€ 1.1364, the equivalent of €/LBP 1,713.12, appreciating against the US Dollar by 0.33% from Monday’s close.

The Euro showed positive movement versus the Dollar today, as investors are awaiting Yellen’s speech at 18:00 Beirut time.

Locally, the Lebanese Pound appreciated versus Dollar from LP/$ 1,510-1,514 with a mid-price of LP/$ 1,512 to LP/$ 1,509-1,513 with a mid-price of LP/$ 1,511.

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 166.04 today.

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