At 16:00 Beirut time, the Euro was quoted at €/$ 1.0886, the equivalent of €/LBP 1,641.06, depreciating by 0.43% against the US Dollar. The euro dropped against the dollar after the release of inflation figures in the Eurozone today. In details, consumer prices in the Euro area declined to -0.2% in February after the positive reading of 0.3% in January.
Locally, the Lebanese Pound depreciated against the Dollar to $/LP 1,514-1,514.5 with a mid-price of $/LP 1,514.25 compared to Friday’s $/LP 1,513.5-1,514.5 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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.34% increase to 169.10 points today.