At 12:15 Beirut time, the Euro was quoted at €/$ 1.0974, the equivalent of €/LBP 1,654.33, depreciating by 0.35% against the US Dollar. The euro went down against the dollar today as the European Central Bank’s meeting is approaching. Prospects of additional stimulus are expected in tomorrow’s meeting to combat the frail inflation level.
Locally, the Dollar appreciated against the Lebanese Pound to $/LP 1,514-1,514.5 with a mid-price of $/LP 1,514.25 compared to Tuesday’s quote of to $/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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.05% uptick to 168.27 points today.