Steady U.S. Interest Rates Pulled Down the Dollar Today

At 15:00 Beirut time, the Euro was quoted at €/$ 1.1311, the equivalent of €/LBP 1,705.13, appreciating by 0.79% against the US Dollar. The euro went up against the dollar today as the latter fell after the Federal Reserve (FED) decided yesterday to maintain interest rates below 0.5% which reduced expectations in financial markets regarding the number of interest rates’ hikes in the upcoming nine months of 2016.

Locally, the Dollar appreciated against the Lebanese Pound from $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514 to the 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 0.76% decrease to 166.77 points today.

Steady U.S. Interest Rates Pulled Down the Dollar Today

Date: 17 March 2016





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