Hints of Extending Monetary Stimulus in the Eurozone Triggered Down the Euro vs the Dollar Today

At 15:30 Beirut time, the Euro was quoted at $/€ 1.1202, the equivalent of €/LBP 1,688.70, depreciating against the US Dollar by 1.22% from Wednesday’s close.

The Euro waned vs the Dollar mainly on the back of the European Central Bank (ECB) announcing today that it will most likely expand its quantitative easing program.

Locally, the Lebanese Pound steadied versus Dollar at LP/$ 1,509-1,513 with a mid-price of LP/$ 1,511.

Compared to the pool of currencies of Lebanon’s major trading partners, the purchasing power of the Lebanese pound progressed as reflected by the NEER, published by BLOMINVEST, which ticked up by 0.14% to 166.57 today.