Euro Gained Momentum Today on Weak US Data

At 12:00 Beirut time, the Euro was quoted at €/$ 1.1020, the equivalent of €/LBP 1,661.27, appreciating by 0.07% against the US Dollar. The euro gained momentum today partly due to lower than expected Labor Market Condition Index (LMCI) in the United States.

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 quote of $/LP 1,514-1,514.25 with a mid-price of $/LP 1,514.13.

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 0.08% downtick to 168.18 points today.

Euro Gained Momentum Today on Weak US Data

 Date: 08 March 2016



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