19 June 2017
Egypt’s flexible exchange rate policy
According to Reuters, in January of this year Egypt fixed its customs dollar exchange rate, since then adjusting it on a monthly basis, so as to help importers better cope with pricing of their merchandise. This decision came after the Central Bank of Egypt initially floated its currency in November in an attempt to attract more tourism to the country. It is hoped that such move will support domestic currency and create better opportunities for local producers in order to be competitive at an international level with their exports.
We encourage international exporters to check the monthly customs USD rates, which will help them better price their goods.
If you need any assistance with your export process to Egypt, don’t hesitate to contact us.
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