Egypt raises the price of the customs dollar to 18.64 pounds

Today, Wednesday, the Egyptian customs authority announced an increase in the price of the customs dollar to £ 18.64 in June, from £ 17 per dollar in May.

The value of the Egyptian pound plunged more than 14% in March after weeks of pressure on the currency as foreign investors withdrew billions of dollars from the Egyptian bond market following the Russian invasion of Ukraine.

The foreign exchange market in Egypt witnessed a state of calm and stability at the start of the week, with the Egyptian pound holding on to the dollar at 18 EGP per dollar after the banks returned from the weekend.

The Central Bank of Egypt raised key interest rates by 200 basis points at the May meeting of the Monetary Policy Committee.

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