Euro’s Losing Streak Against the Dollar Pursued on Friday

At 13:37 Beirut time, the Euro was quoted at €/$ 1.0588, the equivalent of €/LBP 1,596.14, depreciating against the US Dollar by 0.22%.

As talks of more monetary stimulus by the European Central Bank grow stronger, the euro continues to fall against the dollar with some analysts even expecting parity between the two currencies at Christmas.  

Locally, the Lebanese Pound appreciated versus the Dollar going from the range of $/LP 1,512.5-1,514.5 with a mid-price of $/LP 1,513.5 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 0.09% to 169.36 points today.

pLast PricePrevious% ChangeY-t-D
$/LBP    1,512.50     1,513.50-0.07% 
€/LBP    1,596.14     1,599.61-0.22% 
£/LBP    2,266.83     2,276.48-0.42% 
 NEER       169.36        169.210.09%14.95%


Leave a Reply

Your email address will not be published. Required fields are marked *