At 12:30 Beirut time, the Euro was quoted at €/$ 1.0637, the equivalent of €/LBP 1,603.53, depreciating against the US Dollar by 0.63% from Friday’s close.
The euro continues to fall against the dollar on account of diverging monetary policies: In Europe, further monetary stimulus is expected to boost economic growth and inflation while in the US anticipations are steered towards a December rate-hike.
Locally, the Lebanese Pound appreciated versus the Dollar going from $/LP 1,512.5-1,514.5 with a mid-price of $/LP1,513.5 to $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound increased as reflected by the NEER, published by BLOMINVEST, which gained 0.23% to 168.97 points today.
| ||Last Price||Previous||% Change||Y-t-D|
|$/LBP|| 1,512.50|| 1,513.50||-0.07%|| |
|€/LBP|| 1,603.53|| 1,613.63||-0.63%|| |
|£/LBP|| 2,279.79|| 2,307.38||-1.20%|| |
| NEER|| 168.97|| 168.59||0.23%||14.69%|