Minister of Finance Amr El-Garhy said that the US dollar value at customs will increase to EGP 17, starting from Thursday and continuing for two weeks, up from EGP 15.75 now. The customs dollar rate determines the amount paid by importers in local currency for customs. According to El Garhy, the new price will be kept at EGP 17 until the end of March. The US dollar value is calculated based on the average exchange rate in the two weeks before setting the new price. The size of imports amounted to $60bn at the end of the last fiscal year, against exports of $18bn.

Source: Daily News Egypt March 15, 2017 14:48 UTC