Egypt Independent

Egypt keeps customs exchange rate at LE16 per US dollar for October



 

Egypt’s Finance Minister Mohamed Maeet announced on Saturday that the exchange rate of the customs dollar will continue to be fixed at current rates of LE16, starting from the first of October 2018 until the end of the month.

The Finance Minister pointed out that the exchange rate of the customs dollar is around 90% of the US dollar exchange rate prevailing in the banking market.

Finance Ministry announced on July 1, 2018 that it would continue to keep fixation of the customs dollar exchange rate at LE16.

Edited translation from Al-Masry Al-Youm