Stronger Dollar as US Data Beat Expectations

Lebanese Forex Market

Demand for the Lebanese Pound steadied 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.

Foreign assets (excluding gold) at the Central Bank reached $42.15B in July 2017 compared to $40.71B in December 2016.

The dollarization ratio of private sector deposits rose from 65.82% in December 2016 to 66.71% by the end of June 2017.

By Friday August 18th, the euro depreciated against the dollar-pegged LP going from €/LBP 1,772.22 on the 11th of August to €/LBP 1,771.01, this week.

As for the Nominal Effective Exchange Rate (NEER) of the LBP, it marginally fell by 0.01% over the past week to stand at 112.01 points.

International Forex Market:

The Dollar strengthened this week after economic data, including July retail sales, positively beat expectations and signaled an improving U.S. economy.


Gold prices rose from $1288.32/ounce to $1294.76/ounce, this week.

Leave a Reply

Your email address will not be published.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