The Bullish Trend of the Euro vs the Dollar Continued

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1468, the equivalent of €/LBP 1,728.80, rising by 0.15% from Friday’s close.

In general news, the continued uncertainty in the US front coupled with the 8% drop on the Chinese stock exchange could have given  the Euro some boost.

Locally, the Lebanese Pound depreciated versus the Dollar from LP/$ 1,503-1,507 with a mid-price of LP/$ 1,505 to LP/$ 1,506-1,5010 with a mid-price of LP/$ 1,508.

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 fell by 0.23% to 166.08 today.

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