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Egypt lowers customs exchange rates for 1st half of April

by ChemOrbis Editorial Team - content@chemorbis.com
  • 04/04/2017 (16:20)
According to media reports, Egypt’s Finance Ministry has adjusted the customs dollar exchange rates down to 16.5 pounds from 17 pounds per dollar for the first half of April, after an upward revision for the second half of March. The new rates became valid as of April 1. The Ministry revises the customs dollar exchange rate every 15 days.

The rates have been lowered with the aim of decreasing the cost of production and the rate of inflation which has climbed considerably since the currency of the country was floated last November.
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