At 15:20 Beirut time, the Euro was quoted at €/$ 1.0616, the equivalent of €/LBP 1,600.36, depreciating against the US Dollar by 0.09%.
The euro’s decline against the dollar continues to show how sensitive the forex market is to the diverging monetary policies led by the world’s two biggest Central Banks: the European Central Bank and the Federal Reserve.
Locally, the forex market continues to trade within the $/LP 1,500-1,515 band set by the Central Bank, but at the higher end of the peg’s range . The dollar went from $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5 to $/LP 1,512.5-1,514.5 with a mid-price of $/LP 1,513.5
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound increased as reflected by the NEER, published by BLOMINVEST, which gained 0.04% to 169.21 points today.
|p||Last Price||Previous||% Change||Y-t-D|
|$/LBP|| 1,513.50|| 1,512.50||0.07%|| |
|€/LBP|| 1,600.36|| 1,601.87||-0.09%|| |
|£/LBP|| 2,276.02|| 2,280.24||-0.19%|| |
| NEER|| 169.21|| 169.15||0.04%||14.85%|