Cabinet media center denies several customs dollar exchange rate in money market

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MENA

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Tue, 25 Dec 2018 - 01:44 GMT

BY

MENA

Tue, 25 Dec 2018 - 01:44 GMT

FILE: The Cabinet, headed by the acting Prime Minster Mustafa Madbouli, review on Wednesday a comprehensive report on the duties carried out by various ministries and bodies with regard to developing the services provided to residents of al Rawda village

FILE: The Cabinet, headed by the acting Prime Minster Mustafa Madbouli, review on Wednesday a comprehensive report on the duties carried out by various ministries and bodies with regard to developing the services provided to residents of al Rawda village

CAIRO - 25 December 2018: The Cabinet's media center denied having several customs dollar exchange rate in the money market in Egypt, saying the Ministry of Finance has categorically denied such reports.

The customs dollar exchange rate is 90% of the exchange rate of the dollar on the money market and it is used in trading in imported basic and strategic commodities. However, the dollar rate announced by the Central Bank of Egypt is applied in all other dealings and other goods, the ministry said.

The reduced customs dollar rate is EGP 16 and is applied when importing a specific list of strategic and essential goods particularly raw materials and is determined monthly.

The ministry called on mass media to be accurate in reporting news.

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