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Egypt maintains customs exchange rate at EGP 16 per dollar for August

Ahram Online , Thursday 1 Aug 2019

Egypt central bank
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.

 

 

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