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 Price Previous % Change Y-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         168.59 0.23% 14.69%

 

 

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