Euro Continued its Hike against the Dollar

At 11:30 Beirut time, the Euro was quoted at €/$ 1.0910, the equivalent of €/LBP 1,644.68, appreciating by 0.20% against the US Dollar.

The euro gained against the dollar today mainly on beliefs that the Federal Reserve would not be able to hike interest rates as quickly as expected, given weak economic data in the US.

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 169.04 points today.

Euro Continued its Hike against the Dollar

Date: 02 February 2016

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