A billboard displaying the new Lebanese President Joseph Aoun in Baabda, on Jan. 9, 2025. (Credit: Philipe Hage Boutros)
The average price of Eurobonds, Lebanese dollar debt securities, recorded a significant rise in the wake of General Joseph Aoun's election as president on Thursday, gaining nearly two points in 24 hours and trading about 10 points above its lowest level, reached at the peak of the crisis that the country has been experiencing since 2019.According to data relayed by the research department of Bank Audi and Bloomberg, the average price reached 16.25 cents per dollar on Thursday at 5 p.m., while it had closed the previous day at 14.50 cents. A significant part of this increase was recorded in the hours following the election, although the price slightly receded between 4 p.m. and 5 p.m. The increase compared to 6.2 cents per dollar at the end of September is 162 percent.Eurobonds are traded only among their holders, as the Lebanese...
The average price of Eurobonds, Lebanese dollar debt securities, recorded a significant rise in the wake of General Joseph Aoun's election as president on Thursday, gaining nearly two points in 24 hours and trading about 10 points above its lowest level, reached at the peak of the crisis that the country has been experiencing since 2019.According to data relayed by the research department of Bank Audi and Bloomberg, the average price reached 16.25 cents per dollar on Thursday at 5 p.m., while it had closed the previous day at 14.50 cents. A significant part of this increase was recorded in the hours following the election, although the price slightly receded between 4 p.m. and 5 p.m. The increase compared to 6.2 cents per dollar at the end of September is 162 percent.Eurobonds are traded only among their holders, as the Lebanese...