At 11:30 Beirut time, the Euro was quoted at $/€ 1.1288, the equivalent of €/LBP 1,701.67, improving by 0.40% from Thursday’s close.
The continuing tumble in Chinese equities as well as recently released economic data from the Euro Zone and the U.S. were the main barometers for the Euro/Dollar exchange rate. Worth mentioning, German CPI data and trade balance in the U.S. are expected to be released soon.
Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 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 steadied as reflected by the NEER, published by BLOMINVEST, which slightly ticked down by 0.01 % to 166.54 today.
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