Euro Strengthened Against the Dollar for the 4th Session in a Row

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1393, the equivalent of €/LBP 1,717.49, appreciating against the US Dollar by 0.30% from Friday’s close.

Minutes of the latest Federal Reserve meeting, released on Thursday, illustrated the uncertainty of the Fed’s decision regarding when interest rates will be hiked. This may have been holding back the “green back” versus the Euro during the past four sessions.

Locally, the Lebanese Pound steadied versus Dollar at LP/$ 1,510-1,514 with a mid-price of LP/$ 1,512.

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 ticked down by 0.09% to 166.07 today.