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FinancialNews


  • 03-12-18

    Egypt maintains unchanged customs exchange rate

    (MENAFN) Egypt's customs exchange rate for this month was announced to be remaining unchanged, standing at 16 Egyptian pounds to one dollar.

    The unchanged customs exchange rate was confirmed to be applicable for intermediate products as well as semi-finished goods, including Tobacco.

    Egyptian Finance Minister Mohamed Mait stated: "finished products like cigarettes and cigars will be subjected to the exchange rate announced by the Central Bank."

    The Egyptian finance minister suggested that the decision is an indication of Egypt's willingness to help and safeguard low and medium income citizens.

    The country will be maintaining the same exchange rate of the U.S. dollar for customs, effective December 18, and expiring by the end of the month.

    MENAFN0312201800450000ID1097777575

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