egypt lowers customs dollar rate to egp 16 until end of february
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Egypt lowers customs dollar rate to EGP 16 until end of February

Arab Today, arab today

Arab Today, arab today Egypt lowers customs dollar rate to EGP 16 until end of February

File Photo: Egypt's Ministry of Finance (Photo: Al-Ahram)
Egypt - Arab today

Egypt's Ministry of Finance set the customs dollar Wednesday evening at an exchange rate of EGP 16, effective as of Thursday, state news agency MENA reported.

 

The new rate reflects the recent leap in the Egyptian pound's value against the greenback, which currently registers an average of EGP 16.4 compared to an average of EGP 18.5 earlier this month.

According to the ministry the new rate will remain in effect until the end of February and will then be revised.

Last month, Egypt fixed the exchange rate of the customs dollar at EGP 18.5, after the pound's value weakened significantly to register more than EGP 19 against the dollar only one month after the Central Bank of Egypt (CBE) decided to float the pound.

In November, the CBE freely floated the pound as part of an economic reform programme.

Earlier this month, The CBE said the country's foreign reserves reached $26.3 billion at the end of January 2017, up from $24.2 billion in December 2016.

The increase in foreign reserves came as Egypt received a total of $4 billion in yields from Eurobonds issued on the global bond market, in addition to the first tranche of a loan from the International Monetary Fund worth $2.75 billion -- part of a $12-billion financing package.

Egypt held $36 billion in reserves before the 2011 uprising, which overthrew long-time president Hosni Mubarak, ushered in a period of political turmoil, scaring away tourists and foreign investors -- two key sources of foreign currency

Source: Ahram online

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

egypt lowers customs dollar rate to egp 16 until end of february egypt lowers customs dollar rate to egp 16 until end of february

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

egypt lowers customs dollar rate to egp 16 until end of february egypt lowers customs dollar rate to egp 16 until end of february

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms

GMT 19:56 2017 Thursday ,09 March

Qatar Pavilion Opens at ITB Berlin

GMT 23:34 2013 Thursday ,07 February

New BMW 3 Series Gran Turismo

GMT 12:57 2017 Friday ,13 October

JPMorgan open to digital money if regulated

GMT 04:38 2017 Friday ,10 March

ADNOC opens fifth ADNOC Xpress

GMT 10:30 2017 Friday ,10 November

BDF military contingent honoured

GMT 17:37 2017 Tuesday ,24 January

China jails former Sinopec president for graft

GMT 19:34 2017 Sunday ,14 May

Austria centre-right calls for snap elections

GMT 14:54 2014 Saturday ,29 November

Wall cladding, wallpaper, fabric and wood!
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday