Euro Dropped After Draghi’s Measures Yesterday

At 13:30 Beirut time, the Euro was quoted at €/$ 1.1096, the equivalent of €/LBP 1,672.72, depreciating by 0.77% against the US Dollar. The euro went down against the dollar today after the European Central Bank (ECB) lowered its interest rates yesterday and expanded its monthly bond purchase program by 80 billion euros.

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 yesterday’s quote of $/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 0.40% drop to 167.45 points today.

Euro Dropped After Draghi’s Measures Yesterday

Date: 11 March 2016


Leave a Reply

Your email address will not be published. Required fields are marked *