Egypt revises down customs exchange rate for H1 March
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Egypt’s Finance Ministry has revised down the customs dollar exchange rate to 15.75 pounds from 16 pounds per dollar for the first half of March. The new rates will be valid as of March 1.
The downward revision in the customs dollar exchange rate was attributed to the recent gains in the Egyptian pound against the US dollar at the official banks. The EGP has appreciated around 17% against the US dollar since the beginning of February, currently trading below the level of EGP16 at the official banks.
The downward revision in the customs dollar exchange rate was attributed to the recent gains in the Egyptian pound against the US dollar at the official banks. The EGP has appreciated around 17% against the US dollar since the beginning of February, currently trading below the level of EGP16 at the official banks.
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