At 12:30 Beirut time, the Euro was quoted at €/$ 1.0863, the equivalent of €/LBP 1,637.60, marginally falling against the US Dollar by 0.02%.
The Euro remained relatively stable against the Dollar today. However the exchange rate will remain highly influenced by any new policy put in place by the U.S Federal Reserve or the European Central Bank. Similarly, any new report release in the U.S. or Europe could also impact the Euro/Dollar in the coming period.
Locally, the Lebanese Pound steadied versus the Dollar from at a quote of $/LP 1,510-1,514 with a mid-price of $/LP 1,512.
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 0.52% to 175.56 points today.