NEWS / Foreign Exchange

Cleared Checks Up To February 2007

On the banking sector front, BDL statistics revealed that the value of cleared checks expanded by 0.24% to LBP 8,343 billion (1,674,427 checks) up to February 2007, from LBP 8,322 billion (1,679,614 checks) during the same period in 2006. Of the total value of cleared checks, 24.05% were denominated in Lebanese Pound while the remaining 75.95% were in foreign currencies.

Balance of Trade in January 2007

On the current account side of the balance of payment, the Higher Customs Council revealed that Lebanon??™s balance of trade deficit widened by $201 million year-on-year to $698 million in January 2007, up from $497 million in January 2006.

Balance of Payment In January 2007

Statistics released by Banque Du Liban (BDL) revealed a balance of payment (BOP) deficit of USD 310.3 million during the month of January 2007.

Kuwait??™s Budget Surplus

Kuwait??™s budget surplus for the first ten months of 2006 reached 7.3 billion Dinars ($25.26 billion), 1.1 % below last year??™s record. This is further mirrored by the higher expenditures registered in the first ten month of 2006 which increased by 58% from the same period last year.

Producer Price Index In February 2007

Figures released by the U.S. Labor Department depict a 1.3% expansion in February??™s Producer Price Index ???PPI???. February??™s expansion in the producer price index was mainly attributed to higher energy prices.