Euro Maintained its Bullish Trend Today

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1286, the equivalent of €/LBP 1,701.36, progressing by 0.67% from yesterday’s close.

The slump that the Chinese stock market has been experiencing since mid-June, in addition to the Euro area reporting its lowest unemployment rate in 3 years at 10.9% in July, mainly boosted the Euro against the U.S. Dollar.

Locally, the Lebanese Pound steadied versus the Dollar at a quote of LP/$ 1,506-1,510 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 worsened as reflected by the NEER, published by BLOMINVEST, which decreased by 0.21 % to 166.40 today.

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