|Euro / LP||1,567.98||1,584.00||-1.01%||-8.23%|
|Euro / Dollar||1.0401||1.0507||-1.01%||-8.23%|
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 by 01 July, 2022.
On the parallel market this week, the Lebanese national currency has slightly improved and recorded on average of LBP/USD 28,000. In fact several factors are contributing to keeping the Fx rate stable and under 30,000. The two major things that are stabilizing the Fx rate are the intervention of BDL through the circular 161, and the high volumes of tourists and expatriates that are coming to Beirut in this summer season.
As for the Euro/LBP currency pair, the Euro depreciated against the dollar-pegged LBP with the currency pair going from last week €/LBP 1,584 to €/LBP 1,567.98 by May 05, 2022. Moreover, the Nominal Effective Exchange Rate (NEER) of the Lebanese pound slightly decreased weekly by 0.20% to stand at 163.08 points on Mau 05, 2022.
International Forex Market
The Euro/USD depreciated against the dollar from last week from €/USD 1.0507 to €/USD 1.0401 by July 01, 2022. In fact, investors have low-risk appetite amid the global recession and geopolitical tensions, which are enforcing the dollar that is a less risky asset against other riskier currencies.
Gold prices decreased this week by 2.07% by the end of this week to $1,785.73/ounce. It was expected that the gold price will decrease this week amid certain monetary measures that was taken last week by ECB and Fed to decrease inflation rate.
Crude oil prices remain high this week and increased by 0.25% to 112.2 compared to last week.