Custom Dollar
The announcement came a day after the Central Bank of Egypt's decision to float the Egyptian pound (EGP) and increase interest rates by 600 basis points.
The price of the customs dollar is the price that the Ministry of Finance used to set for the dollar against the pound on a monthly basis.
The ministry attributed the decision to the end of the exceptional circumstances that drove the government to resort to the monthly fixed customs exchange rates.
The custom dollar for non-essential products will be at LE 16.7703.
The custom dollar for non-essential products will be at LE 16.8648.
The custom dollar is the price by which the proportion of customs duties and taxes on imports of goods from abroad are calculated.
The custom dollar for non-essential products will be at LE 17.385.
By the end of November, Ma’it announced raising the custom dollar to LE 18 for non-essential products, including cars, some kinds of shoes, furniture and cigarettes.
Officials and experts expect they won’t, but to put things into context we review the Egyptian-European agreement and invite experts to weigh in on likely scenarios once customs tariffs are lifted in January.
The Cabinet's media center denied having several customs dollar exchange rate in the money market in Egypt, saying the Ministry of Finance has categorically denied such reports.
The minister said that the custom dollar rotates around 90 percent of the prevailing dollar price in the banking market.
The minister said that the custom dollar rotates around 90 percent of the prevailing dollar price in the banking market.
The minister said that the custom dollar rotates around 90 percent of the prevailing dollar price in the banking market.
Egypt kept the customs dollars at its current rate of LE 16 to the dollar for the month of May.
A wrap-up of the most prominent business news of the day.
Egypt kept the customs dollars at its current rate of LE 16 to the dollar for April, the Ministry of Finance said Wednesday.
The average exchange rate for the U.S. dollar stood at LE 17.74 for buying and LE 17.84 for selling at the CBE.
The new figure is less than the custom dollar exchange rate set for August at LE 16.25, Minister of Finance said.
The custom exchange rate is 8 percent less than the normal exchange rate.
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