At 15:30 Beirut time, the Euro was quoted at $/€ 1.1304, the equivalent of €/LBP 1,703.63 depreciating against the US Dollar by 0.15% from Monday’s close.
The Dollar might lose its momentum, as investor are all awaiting the Fed’s policy meeting, on Thursday, and its decision regarding interest rates hike.
Locally, the Lebanese Pound depreciated versus the Dollar from LP/$ 1,507-1,511 with a mid-price of LP/$ 1,509 to LP/$ 1,508-1,512 with a mid-price of LP/$ 1,510.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound declined as reflected by the NEER, published by BLOMINVEST, which dropped by 0.05% to 166.86 today.
Foreign Exchange Market Last Price Previous Change Y-t-D $/LBP 1,508.00 1,509.00 -0.07% €/LBP 1,703.63 1,706.19 -0.15% £/LBP 2,320.34 2,325.17 -0.21% NEER 66.86 166.94 -0.05% 13.26%