Cairo - Mubasher: The Egyptian ministry of finance (MoF) announced on Wednesday that it will adjust the customs exchange rate for the US Dollar to EGP 16 down from EGP 18.5.

The decision is effective beginning Thursday until the end of February, according to the ministry’s statement.

Imports in foreign currencies, including the dollar, will be evaluated, and exchange rates will be revised again on 1 March and on a semi-monthly basis, the statement indicated.