Stability in customs dollar value at EGP 16: finance minister 

Shaimaa Al-Aees
1 Min Read
The decision to float the Egyptian pound has stirred volatility in the Egyptian market.

Minister of Finance Mohamed Moeit announced that the price of the customs dollar will continue to be fixed at the current rate of EGP 16 starting from 1 July 2018 and lasting for a month.

The customs dollar is used to calculate the value of the fees paid by the importer in local currency for the customs release of imported goods.

“The customs dollar is about 90% of the currency price in the market,” the minister said.

It is noteworthy that the ministry announced on 1 June the continuation of fixing the customs dollar price at EGP 16 until 30 June 2018.

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