At 12:54 Beirut time, the Euro was quoted at €/$ 1.1272, the equivalent of €/LBP 1,699.25, depreciating by 0.42% against the US Dollar. The euro declined against the dollar after officials from the European Central Bank announced there is still room for further interest rate cuts.
Locally, the Dollar stabilized today against the Lebanese Pound at $/LP 1,514-1,514.25 with a mid-price of $/LP 1,514.13.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.05% increase to 166.86 points today.
Date: 18 March 2016