Euro Down Against the Dollar on Thursday following Positive US Data

At 12:30 Beirut time, the Euro was quoted at €/$ 1.1125, the equivalent of €/LBP 1,677.09, depreciating by 0.02% against the US Dollar. The euro edged lower as the dollar gained momentum after the release of positive US Industrial Production data and the minutes of the FED’s committee meeting in January, reflecting a recovering US economy.

Locally, the Lebanese Pound appreciated against the Dollar standing at $/LP 1,513.5-1,514.25 with a mid-price of $/LP 1,513.88 compared to yesterday’s $/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 depreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.06% downtick to 168.14 points today.

Date: 18 February 2016

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