At 15:20 Beirut time, the Euro was quoted at €/$ 1.0879, the equivalent of €/LBP 1,640.01, appreciating by 0.42% against the US Dollar.
The European currency maintained its increase against the dollar, as an industry report verified that manufacturing grew in the Eurozone in January. This reveals that the economy is still resilient enough to abate the need for aggressive expansion of Quantitative Easing. Moreover, the German Purchasing Manager’s Index (PMI) reading registered better than expected results, at 52.3 in January 2016 instead of 52.1.
Locally, the Lebanese Pound remained unchanged against the Dollar going at $/LP 1,513-1,514 with a mid-price of $/LP 1,513.50.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound decreased as reflected by the NEER, published by BLOMINVEST, which registered a 0.03% downtick to 169.09 points today.
Date:01 February 2016