Euro Depreciated vs the Dollar During the 1st Session of the Week

At 11:30 Beirut time, the Euro was quoted at $/€ 1.1005, the equivalent of €/LBP 1,659.00, depreciating against the US Dollar by 0.12% from Friday’s close.

Draghi’s comment last week, regarding the possibility of an extension in the European Quantitative Easing (QE) program,  might be holding back the Euro vs the dollar.

Locally, the Lebanese Pound steadied versus Dollar at LP/$ 1,5010-1,514 with a mid-price of LP/$ 1,512.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound strengthened as reflected by the NEER, published by BLOMINVEST, which ticked up by 0.29% to 167.15 today.

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