| 03/09/2021 | 27/08/2021 | %Change | YTD | |
| Euro / LP | 1,787.63 | 1,769.72 | 1.01% | -2.79% |
| Euro / Dollar | 1.1858 | 1.1739 | 1.01% | -2.79% |
| NEER Index | 140.07 | 141.07 | -0.70% | 12.20% |
Lebanese Forex Market
To-date, the Lebanese Pound (LBP) remained steady within the official range of USD/LBP 1,514 to 1,514.5, with a mid- price of USD/LBP 1,514.25 in the week of September 3, 2021.
This week, the Lebanese lira has relaxed and recorded LBP18,500/USD amid some positive news about the formation of the new government. However, the market remains unstable as the potential government has tons of economic and political challenges.
In turn, the dollarization ratio for private sector deposits decreased from 80.37% in December 2020 to 80.27% in June 2021.
As for Euro/LBP currency pair, the Euro appreciated against the dollar-pegged LBP with the currency pair going from last week €/LBP 1,769.72 to €/LBP 1,787.63 by September 03, 2021. Moreover, the Nominal Effective Exchange Rate (NEER) of the LBP slightly decreased by 0.70% since 27 August 2021 to stand at 140.07 points on September 03, 2021.
International Forex Market
The Euro/USD appreciated against the dollar from last week €/USD 1.1739 to €/USD 1.1858 by September 03, 2021. The Euro recorded a second straight gain for the first time since May. In the US, this week, the job markets data report is projected to show an improvement, and unemployment rate is expected to decline in August. As such, investors are being bullish as they prefer to put more money in riskier currencies.
Commodities
Gold price increased by 1.60% at the end of this week to $1,823/ounce, as US dollar fell this week, despite the positive US jobs data.
In addition, Crude oil prices increased this week by 1.86% and recorded $73.41/Barrel, amid high expectation of a rebound in global demand.