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Egypt maintains custom exchange rate at EGP 16 per dollar for September

Ahram Online , Wednesday 29 Aug 2018
EGP/USD
Egyptian pound to US dollar (Photo: AP)
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In an official statement by the Egyptian Ministry of Finance on Wednesday, the price of a custom dollar will remain stable at EGP 16 for the month of September.

"The price of the custom dollar is around 90 percent of the normal dollar price that is traded in the financial market," finance minister Mohamed Mait said.

The custom dollar was also set at EGP 16 in August 2018.

Egypt began setting a monthly custom exchange rate in January 2017, following the flotation of its currency in November 2016.

The Egyptian pound has remained roughly at the same level in recent months, trading at EGP 17.85 per dollar on Wednesday.

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