Egypt central bank (Reuters)
Egypt will keep its customs exchange rate steady at EGP 16 to the dollar for August, the finance ministry said in a statement late on Wednesday.
Egypt introduced a monthly fixed customs exchange rate in January 2017, following the central bank’s decision to float the Egyptian pound in November 2016.
The finance ministry has since reviewed the rate on a monthly basis.
The Egyptian pound has remained at nearly the same level in recent months, trading at around EGP 16.52 to the dollar on Wednesday.