At 15:30 Beirut time, the Euro was quoted at €/$ 1.0852, the equivalent of €/LBP 1,635.94, depreciating by 0.16% against the US Dollar. The euro weakened against the dollar after the ADP’s release today in the United States in which improving labor market data were recorded. The figures showed that the jobs added by private companies in the U.S were better than expected, where 214,000 new jobs were added in February up from the 205,000 new jobs registered in January.
Locally, the Lebanese Pound remained steady against the Dollar at $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514.
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 0.07% downtick to 168.93 points today.