Dollar Weakened After Fed Left Rates Steady
At 15:30 Beirut time, the Euro was quoted at $/€ 1.14122, the equivalent of €/LBP 1,720.39, appreciating against the US Dollar by 0.09% from Thursday’s close.
Yesterday’s Fed decisions not to hike interest rate this month but rather in December supported the Euro at the expense of the Dollar.
Locally, the Lebanese Pound steadied versus the Dollar at LP/$ 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 decreased as reflected by the NEER, published by BLOMINVEST, which down ticked by 0.29% to 166.07 today.
| Foreign Exchange Market | Last Price | Previous | Change | Y-t-D |
| $/LBP | 1,510.00 | 1,510.00 | – | |
| €/LBP | 1,720.39 | 1,718.85 | 0.09% | |
| £/LBP | 2,358.33 | 2,349.74 | 0.37% | |
| NEER | 166.07 | 166.55 | -0.29% | 12.72% |
