At 13:30 Beirut time, the Euro was quoted at €/$ 1.0983, the equivalent of €/LBP 1,655.69, appreciating by 0.24% against the US Dollar. The euro erased today some of its previous losses as traders evaluate the chances of additional stimulus by the European Central Bank ahead of its meeting next week, amid poor economic data.
Locally, the Lebanese Pound remained steady against the Dollar at $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound depreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.24% downtick to 168.24 points today.