Euro Fails to Make its Way to the 1.10 Level against the Dollar Today

At 11:05 Beirut time, the Euro was quoted at €/$ 1.0882, the equivalent of €/LBP 1,640.46, depreciating by 0.11% against the US Dollar.

The euro weakened against the dollar today on rising fears of a potential hike in US rates in March coupled with investors’ concerns regarding the European Central Bank’s decision to carry on with its quantitative easing program.

Locally, the Lebanese Pound depreciated by 0.08% against the Dollar to stabilize at $/LP 1,513.25-1,514.25 with a mid-price of $/LP 1,513.75.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound improved as reflected by the NEER, published by BLOMINVEST, which ticked up by 0.13% to 169.37 points today.

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