Euro Fell Against the Dollar Today on Higher Expectations of Interest Rate Hikes in the US

At 12:30 Beirut time, the Euro was quoted at €/$ 1.0560, the equivalent of €/LBP 1,591.92, depreciating against the US Dollar by 0.48%.

The Euro fell against the dollar today, after US Federal Reserve Chair Janet Yellen hinted an increased probability of interest rates hike in December, as the US economy is maintaining its progress.

Locally, the Lebanese Pound steadied versus the Dollar at a quote of $/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 0.04% to 169.41 points today.

 Last PricePrevious% ChangeY-t-D
$/LBP   1,512.50     1,512.50 
€/LBP   1,591.92     1,599.61-0.48% 
£/LBP   2,252.66     2,253.41-0.03% 
NEER169.41169.350.04%14.99%

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