Egypt Increases Custom Dollar to EGP 18.64

The Ministry of Finance decided to increase the price of one custom dollar from EGP 17 to EGP 18.64 starting from Wednesday.

The new decision was announced by the Egyptian Customs Authority, and the new directive orders were sent to all ports and customs spots across Egypt.

Last March, the price of the customs dollar for all imports, except for basic commodities and production requirements, increased to reach the level of EGP 18.5684, compared to EGP 18.2884.

The price of the customs dollar is relied upon in calculating the customs tax on goods that are imported from abroad, and it is applied on the working day following its official announcement by the Ministry of Finance.

The ministry had announced yesterday that the price would be fixed at the level of EGP 16 until the end of this month, for basic commodities and production requirements, while the rest of the commodities are subject to the official prices that are announced daily by the Central Bank of Egypt.

According to central data, the price of the US dollar recorded EGP 18.57 for buying and, EGP 18.63 for selling.

The euro exchange rate reached EGP 19.88 for buying and  EGP 20.00 for selling.

The pound sterling exchange rate hit EGP 23.35 for buying and EGP 23,50 for selling.

It also witnessed the exchange of the Saudi riyal reached EGP 4.94 at the end of trading today for buying, and EGP 4.96 for selling.

The announced prices are according to the performance of currencies exchange recorded by the National Bank of Egypt.