At 15:00 Beirut time, the Euro was quoted at €/$ 1.1035, the equivalent of €/LBP 1,663.53, appreciating by 0.22% against the US Dollar. The Euro has been fluctuating throughout the day on rising prospects of a potential expansion of the ECB’s stimulus in the upcoming policy meeting on the 10th of March. The EU also influenced the single currency today as the inflation level recorded a mere 0.3% in February, below the 0.4% inflation rate reported in January.
Locally, the Lebanese Pound steadied against the Dollar standing at $/LP 1,513.75-1,514.25 with a mid-price of $/LP 1,514.
Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound depreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.09% downtick to 168.56 points today.
Date: 25 February 2016