At 10:39 Beirut time, the Euro was quoted at €/$ 1.0855, the equivalent of €/LBP 1,636.39, appreciating by 0.05% against the US Dollar.
The euro registered its second consecutive advance this week against the dollar. It seems that the euro is being perceived as a safe-haven currency amidst continued oil selling and slide in equities.
Locally, the Lebanese Pound steadied against the Dollar moving in the range 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 improved as reflected by the NEER, published by BLOMINVEST, which registered a 0.07% upturn to 169.74 points today.
