At 14:30 Beirut time, the Euro was quoted at €/$ 1.0863, the equivalent of €/LBP 1,639.26, depreciating against the US Dollar by 0.65%.
The Euro regressed against the Dollar today, probably in a correction movement following the gains resulting of the downturn in Chinese Equities. In adddition, the Non-Farm Payroll data for December should be released soon and is expected to affect the Euro/Dollar exchange rate.
Locally, the Lebanese Pound steadied versus the Dollar at $/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 ticked up by 0.08% to 169.13 points today.