Dollar Maintains its Momentum vs the Euro Today

At 15:30 Beirut time, the Euro was quoted at $/€ 1.1251, the equivalent of €/LBP 1,696.09, dropping by 0.57% from Wednesday’s close.

Positive data regarding economic growth in the US mainly stood behind the strengthening Dollar today. In details, the annualized real GDP growth rate hit 3.7% between April and June, up from the initially estimated 2.3% growth rate.  

Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 1,505-1,509 with a mid-price of LP/$ 1,507.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound improved as reflected by the NEER, published by BLOMINVEST, which increased by 0.22% to 166.55 today.

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