The monthly system was applied in January 2017
Cairo – Mubasher: Egypt’s Ministry of Finance (MoF) has cancelled the monthly customs exchange rate and will set the rate on a daily basis.
Starting from 1 September, the customs duties will be set according to the foreign currency exchange rates announced by the Central Bank of Egypt (CBE), according to a statement on Sunday.
In January 2017, the monthly system was applied in a bid to stabilise the customs rate following the flotation of the Egyptian pound.
Source:
Mubasher
