September 1, 2019 / 3:35 PM / 16 days ago

Egypt to set customs exchange rate daily as of Sept. 2 - Customs Authority

CAIRO, Sept 1 (Reuters) - Egypt will begin setting its customs exchange rate daily as of Sept. 2, the Customs Authority said on Sunday.

Egypt had set the rate at 16 Egyptian pounds to the dollar for essential items and at a fluctuating rate adjusted monthly for non-essential goods.

The customs rate will be 16.6230 Egyptian pounds to 1 dollar on Monday, a bulletin issued by the authority said.

Reporting by Ehab Farouk, Writing by Patrick Werr, Editing by Alison Williams

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