Euro Depreciated against the Dollar Today following Draghi’s Statement

At 12:30 Beirut time, the Euro was quoted at €/$ 1.0704, the equivalent of €/LBP 1,613.63, depreciating against the US Dollar by 0.29% from Thursday’s close.

The Euro lost against the Dollar today as the European Central Bank official, Mario Draghi, stated that policy makers will aim at increasing inflation rate as “quickly as possible”.

Locally, the Lebanese Pound depreciated versus the Dollar to $/LP 1,512.5-1,514.5 with a mid-price of $/LP1,513.5, compared to yesterday’s quote of $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.

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 lost 0.20% to 168.59 today.

 Last PricePrevious% ChangeY-t-D
$/LBP1,513.501,512.500.07% 
€/LBP   1,613.631,618.30-0.29% 
£/LBP   2,307.382,305.120.10% 
NEER     168.59168.93-0.20%14.43%

Leave a Reply

Your email address will not be published. Required fields are marked *