At 14:00 Beirut time, the Euro was quoted at €/$ 1.0870, the equivalent of €/LBP 1,638.65, depreciating by 0.04% against the US Dollar. The euro fluctuated against the dollar after the release of mixed data on unemployment and manufacturing activity in the Eurozone today. In details, the Purchasing Managers Index fell below the 50 level, the lowest reading since June 2013, while the European Union’s jobless rate declined to 10.3% recording the lowest rate since August 2011.
Locally, the Lebanese Pound appreciated against the Dollar to $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514 compared to Monday’s $/LP 1,514-1,514.5 with a mid-price of $/LP 1,514.25.
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 0.04% downtick to 169.04 points today.
Date: 01 March 2016