At 11:30 Beirut time, the Euro was quoted at $/€ 1.1181, the equivalent of €/LBP 1,685.54 up ticking by 0.58% from Wednesday’s close.
Minutes of the Fed’s latest meeting left the door open whether interest rates hike may take place or not in September, partially due to less than promising inflation figures. This might have an impact on the Euro-Dollar exchange rate especially after prospects following the meeting revealed lower probability of the rates’ hike taking place in the coming month.
Locally, the Lebanese Pound depreciated versus the Dollar from LP/$ 1,503-1,507 with a mid-price of LP/$ 1,505 to LP/$ 1,504-1,508 with a mid-price of LP/$ 1,506.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound weakened as reflected by the NEER, published by BLOMINVEST, which ticked down by 0.20% to 166.86 today.
| Foreign Exchange Market | Last Price | Previous | Change | Y-t-D |
| $/LBP | 1,506.00 | 1,505.00 | – | |
| €/LBP | 1,685.54 | 1,675.89 | 0.58% | |
| £/LBP | 2,361.35 | 2,363.16 | -0.08% | |
| NEER | 166.86 | 167.19 | -0.20% | 13.26% |