Cairo - Mubasher: The Egyptian finance minister, Amr Al Garhy, has decided to fix the customs exchange rate for the US dollar at EGP 16.5 starting for another month, beginning 1 June, according to Reuters.

The Ministry of Finance (MoF) took a similar decision by the end of April, maintaining it at its current rate of EGP 16.5 for May.

Back in April, the finance ministry adjusted the customs rate, lowering it from EGP 18.5 to EGP 16, adding that imports in foreign currencies, including the dollar, will be evaluated, and exchange rates will be revised again on a monthly basis.