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Egypt decides to increase the price of the customs dollar

The Egyptian Ministry of Finance decided to raise the customs dollar price to 19.31 pounds, as an exchange rate to be used for importing goods from abroad, starting from Thursday.

It is noteworthy in the text of the decision that the customs dollar price specified in it is the highest ever since its inception, and that for the second time it becomes higher than the dollar exchange rate officially set by the Central Bank.

The Central Bank of Egypt set the exchange rate of the dollar against the pound in banks on Wednesday at 19.22 pounds for purchase, and 19.29 pounds for sale.

At the end of last June, Egypt decided to raise the customs exchange rate of the dollar from 17 pounds to 18.64 pounds, while the dollar exchange rate in most banks closed at the end of the work of the night of this decision at 18.63 pounds.

An official source at the Egyptian Ministry of Finance confirmed that raising the customs dollar price will not lead to an increase in the price of goods, because in all cases, traders and importers calculate the cost of their imported transactions according to the exchange rate in banks and not according to the customs dollar if it is less than the exchange rate in banks.

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Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

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