Euro Down Against the Dollar on Anticipations of Further ECB Stimulus

At 12:30 Beirut time, the Euro was quoted at €/$ 1.0637, the equivalent of €/LBP 1,603.53, depreciating against the US Dollar by 0.63% from Friday’s close.

The euro continues to fall against the dollar on account of diverging monetary policies: In Europe, further monetary stimulus is expected to boost economic growth and inflation while in the US anticipations are steered towards a December rate-hike.

Locally, the Lebanese Pound appreciated versus the Dollar going from $/LP 1,512.5-1,514.5 with a mid-price of $/LP1,513.5 to $/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 increased as reflected by the NEER, published by BLOMINVEST, which gained 0.23% to 168.97 points today.

 Last PricePrevious% ChangeY-t-D
$/LBP    1,512.50     1,513.50-0.07% 
€/LBP    1,603.53     1,613.63-0.63% 
£/LBP    2,279.79     2,307.38-1.20% 
 NEER       168.97        168.590.23%14.69%



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