China's c. bank issues 495.8b yuan off reverse repo    European shares climb as EU-US trade deal lifts markets    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Iran launches mass deportation of Afghans amid spying allegations    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    UK pay settlements stagnant amid inflation surge    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Customs' dollar price would match the market's price: El-Monayer
The decision to keep the price stable for 15 days is important for a more stable market
Hisham Salah Published in Daily News Egypt on 12 - 03 - 2017

The deputy Minister of Finance for tax policies, Amr El-Monayer, said that the new customs price of the US dollar would match the average of its price in the market.
He told Daily News Egypt that the ministry would revise and announce the new customs price of the US dollar on Wednesday, in order to help the importers know the prices, explaining that the revision of the prices happens according to the ministry's decision.
It is important to mention that on 15 February, the ministry reduced the period of revising the customs US dollar to 15 days instead of 45.
El-Monayer added that the decision to keep the price stable for 15 days is important for a more stable market, as the pound's value isn't currently stable against the US dollar or foreign currencies in general.
However, he stated that the customs price of the dollar has to match the prices of the market.
It is important to mention that the current price of the US dollar is around EGP17.7 due to its unstable value, which witnessed more dropping in the past week, and this made the price of the dollar jump up from EGP16.
Deciding a stable customs price for the dollar came during January after the Central Bank of Egypt (CBE) floated the Egyptian pound on 3 November.
The new customs price of the dollar would be revised again on 31 March, to be applied in April.
El-Monayer stated that it is hard to predict the new customs price for the dollar; however, it would reflect the price of the market on Wednesday.

Clic here to read the story from its source.