| 08/07/2022 | 01/07/2022 | %Change | YTD | |
| Euro / LP | 1,528.05 | 1,567.98 | -2.55% | -10.57% |
| Euro / Dollar | 1.0136 | 1.0401 | -2.55% | -10.57% |
| NEER Index | 166.21 | 163.08 | 1.92% | 10.90% |
Lebanese Forex Market
To-date, the Lebanese Pound (LBP) remained steady within the official range of USD/LBP 1,514 to 1,514.5, with a mid- price of USD/LBP 1,514.25 by 08 July, 2022.
On the parallel market this week, the Lebanese national currency has showed a stable rate at approximately LBP/USD 29,000 backed by the circular 161 along with the increase of numbers of tourists and expatriates that are injecting the hard currency into the Lebanese market.
As for the Euro/LBP currency pair, the Euro depreciated against the dollar-pegged LBP with the currency pair going from last week €/LBP 1,567.98 to €/LBP 1,528.05 by May 08, 2022. Moreover, the Nominal Effective Exchange Rate (NEER) of the Lebanese pound slightly increased weekly by 1.92% to stand at 166.21 points on May 08, 2022.
International Forex Market
The Euro/USD depreciated against the dollar from last week from €/USD 1.0401 to €/USD 1.0136 by July 08, 2022. The Euro is in continuous decline in front of dollar amid the uncertainty about energy supply, as the war between Ukraine and Russia is escalating, with little hope to accomplish an agreement of ceasing fire between Russian and Ukraine.
Commodities
Gold prices decreased this week by 2.90% by the end of this week to $1,734/ounce, with the improvement of the US dollar, as the US job date released today has showed still a robust job growth.
Crude oil prices decreased this week by 6.80% and recorded $104.52/barrel, amid the fears of global recession that will affect negatively the demand for petroleum product.