Euro Continues to Register Losses Versus the Dollar

At 16:15 Beirut time, the Euro was quoted at €/$ 1.0590, the equivalent of €/LBP 1,596.44, depreciating against the US Dollar by 0.47%.

The euro continues to record losses against the dollar as the European Central Bank contemplates how it can increase monetary stimulus, be it through cuts in the deposit rates or a prolonged and larger bond-buying program.

Locally, the Lebanese Pound steadied versus the Dollar maintaining the range of  $/LP 1,510.5-1,514.5 with a mid-price of $/LP 1,512.5.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese Pound increased as reflected by the NEER, published by BLOMINVEST, which gained 0.11% to 169.15 points today.