Parity of the Euro-Dollar Less Likely with the Recent Euro Gains

At 16:07 Beirut time, the Euro was quoted at €/$ 1.0968, the equivalent of €/LBP 1,653.43, appreciating against the US Dollar by 0.26%.

Investors are slowly abandoning the idea of the euro reaching parity with the dollar after the European currency has been registering upturns against the greenback.

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 decreased as reflected by the NEER, published by BLOMINVEST, which lost 1.53% to 169.19 points today.

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