At 12:00 Beirut time, the Euro was quoted at €/$ 1.1388, the equivalent of €/LBP 1,716.74, appreciating by 0.18% against the US Dollar. The euro went up against the dollar today given the perception that the FED rate hike is not expected to take place in the near future. The next euro-impacting event is due tomorrow as traders will be waiting for the statement of the ECB’s (European Central Bank) official.
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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.04% uptick to 166.49 points today.
Date: 11 May 2016 