Euro Remained Unchanged vs the Dollar During the Week

Demand for the dollar increased over the past week, as reflected by the Lebanese pound’s peg against the dollar that went from $/LP 1,509-1,513 with a mid-price of $/LP 1,511 $/LP to 1,510-1,514 with a mid-price of $/LP 1,512 week. Foreign assets (excluding gold) at the Central Bank decreased by a monthly 1.06% from $38.89B by end-February to $38.48B by end-March. Meanwhile, the dollarization rate of private sector deposits stood at 65.51% in January 2015 compared to 65.71% in December 2014.

The Euro/dollar quote remained unchanged at to €/$1.0821. The price of gold inched up by 0.51% going from $1,198.85/ounce to $1,205.00/ounce this week.

By Thursday April 02nd, 2015, 12:30 pm Beirut time, the dollar-pegged LP stood at €/LP 1,631.27, unchanged from last week. The Nominal effective exchange Rate (NEER) lost 0.02% over the week to 163.38 points, with its year-to-date gain reaching 10.90%.

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