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  • 02-01-18

    Egypt: customs exchange rate to remain steady at 16 pounds

    (MENAFN) The Finance Ministry of Egypt announced customs exchange rate to be maintained at 16 pounds per dollar for January.

    In a statement, the ministry explained "the decision is consistent with the currency price stabilization in the past period."

    As a result of its pound currency experiencing flotation in November 2016, Egypt has introduced a monthly customs exchange rate in January.

    Trading at roughly 17.69 to the dollar, the pound proved its steadiness over past months.

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