Positive Signs for the Euro Today

At 16:00 Beirut time, the Euro was quoted at $/€ 1.1225, the equivalent of €/LBP 1,692.17, improving by 0.41% from Friday’s close.

 The continuing tumble in Chinese equities as well as positive readings in German retail sales partially supported the Euro vs the Dollar.  

Locally, the Lebanese Pound depreciated versus the Dollar from LP/$ 1,505-1,509 with a mid-price of LP/$ 1,507 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 improved as reflected by the NEER, published by BLOMINVEST, which slightly ticked up by 0.13 % to 166.75 today.

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