Higher Demand for the Euro as Chinese Market Tumbles

At 15:22 Beirut time, the Euro was quoted at €/$ 1.0824, the equivalent of €/LBP 1,631.72, appreciating against the US Dollar by 0.08%.

Investors sought out the euro as a safe haven this week after the slump on the Chinese equity market.

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 0.12% to 169.25 points today.



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