Euro Fell Versus the Dollar after Interest Rates’ Hike in the US

At 16:30 Beirut time, the Euro was quoted at €/$ 1.0844, the equivalent of €/LBP 1,634.73, depreciating against the US Dollar by 0.61%.

The Dollar appreciated against the Euro after the US Federal Reserve announced its 25 basis point-hike in interest rates.

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 0.71% to 173.64 points today.

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