At 15:30 Beirut time, the Euro was quoted at €/$ 1.1367, the equivalent of €/LBP 1,713.58, depreciating by 0.26% against the US Dollar. The euro fell against the dollar today as investors in the U.S were reacting to the FED’s statements, which were released yesterday. In fact, the minutes of the FOMC mentioned that an April interest rate hike is still debatable. In addition, investors are awaiting today for dovish statement by the European Central Bank (ECB).
Locally, the Dollar remained unchanged against the Lebanese Pound at the quote of $/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 0.11% downtick to 166.45 points today.
Date: 7 April 2016 [/accordion]