At 11:00 Beirut time, the Euro was quoted at €/$ 1.1215, the equivalent of €/LBP 1,690.66, depreciating by 0.85% against the US Dollar. The dollar inched up against the euro after the release of the minutes of the Federal Open Market Committee (FOMC) meeting, which revealed that Federal Reserve officials are open to June’s interest rate hike, if U.S economic data remained strong.
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 0.13% uptick to 167.13 points today.