ECB Comments Lift the Euro Again on Tuesday

At 17:20 Beirut time, the Euro was quoted at €/$ 1.0889, the equivalent of €/LBP 1,641.52, appreciating against the US Dollar by 0.47%.

The euro gained some ground against the dollar today as the effect of last week’s European Central Bank comments is felt again on the forex market; investors expected the ECB to announce more aggressive stimulus measures.

Locally, the Lebanese Pound steadied versus the Dollar at a 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 decreased as reflected by the NEER, published by BLOMINVEST, which lost 0.11% to 168.48 points today.

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