At 15:00 Beirut time, the Euro was quoted at €/$ 1.1085, the equivalent of €/LBP 1,671.06, depreciating by 0.21% against the US Dollar. The dollar gained momentum today traders predicted that Janet Yellen will announce after the Federal Open Market Committee (FOMC) meeting a sooner than expected interest rate hike.
Locally, the Dollar depreciated against the Lebanese Pound to $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514 from yesterday’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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.06% uptick to 168.05 points today.
Date: 16 March 2016