The Euro Weakened after Draghi’s Statement Yesterday

At 11:30 Beirut time, the Euro was quoted at €/$ 1.1276, the equivalent of €/LBP 1,699.86, depreciating by 0.12% since the day before against the US Dollar. The European currency fell against the dollar as ECB President Mario Draghi confirmed that interest rates will remain at present or lower levels for an extended period of time and that the bank’s stimulus program needs time to work.

Locally, the Dollar remained unchanged against the Lebanese Pound at the 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 appreciated as reflected by the NEER, published by BLOMINVEST, which registered a 0.08% uptick to 166.54 points today.

The Euro Weakened after Draghi’s Statement YesterdayDate: 22 April 2016







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