At 12:30 Beirut time, the Euro was quoted at €/$ 1.0840, the equivalent of €/LBP 1,634.13, depreciating by 0.32% against the US Dollar.
The euro fell against the dollar today after the European Central Bank’s (ECB) president Mario Draghi announced that the monetary policy should be reviewed in March in order to boost the fading economic growth and inflation. This will mostly imply the extension of the quantitative easing program in the coming months.
Locally, the Lebanese Pound steadied against the Dollar moving in the range 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 remained unchanged as reflected by the NEER, published by BLOMINVEST, which remained unchanged at 169.50 points today.
