Egypt lowers customs exchange rate to EGP15.75 per dollar from EGP16 for two weeks
Egypt will lower its customs exchange rate to EGP15.75 per dollar from EGP16, effective from Wednesday, according to Minister of Finance, Amr Al Garhy. The new rate will be set for two weeks, he said. Egypt began setting a monthly fixed customs exchange rate in January, following the floatation of its pound currency in November and has since moved to set it every two weeks. The dollar exchange rate for customs was last lowered in mid-February to EGP16 from EGP18.5, effective until end of month.
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