Euro Gained Against the Dollar Today

At 16:00 Beirut time, the Euro was quoted at €/$ 1.0963, the equivalent of €/LBP 1,652.67, appreciating against the US Dollar by 0.64%.

The Euro gained some ground against the Dollar today as the effect of last week’s European Central Bank decisions to continue the bond buying program at least March 2017 at the same pace of €60B/month.

Locally, the Lebanese Pound steadied versus the Dollar at a quote 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 decreased as reflected by the NEER, published by BLOMINVEST, which lost 0.20% to 171.32 points today.

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