Euro Appreciated against Dollar in the Past week

Lebanese Forex Market 

Demand for the Lebanese Pound rose over the past week on the Lebanese forex market with the value of the Lebanese Pound trading within the range of $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514.00 compared to last week’s range of $/LP 1,514-1,514.5 with a mid-price of $/LP 1,514.25 .

Foreign assets (excluding gold) at the Central Bank reached $41.06B in June 2017 compared to $40.71B in December 2016.

The dollarization ratio of private sector deposits rose from 65.82% in December 2016 to 66.58% by the end of May 2017.

By Friday July 21st, the euro appreciated against the dollar-pegged LP going from €/LBP 1,720.06  on the 14th of July to €/LBP 1,756.24, this week.

As for the Nominal Effective Exchange Rate (NEER) of the LBP, it dropped by 1.02% over the past week to stand at 112.45 points.

International Forex Market:

The Euro reached its highest level since August 2015 against the dollar rising by 2.10% to €/$1.1650 after the ECB meeting that hinted at the possibility of reducing quantitative easing this fall.


Gold prices rose from $1,221.7/ounce to $1,247.99/ounce, this week.


Leave a Reply

Your email address will not be published. Required fields are marked *