Exchange rate for customs on luxury products drops to EGP17.59 in March
The exchange rate for customs on non-essential products declined marginally in March to register USD-EGP 17.59, down from USD-EGP 17.70 in February, the finance ministry said in a statement. Finance Minister Mohamed Maait kept the customs dollar rate unchanged for necessary goods at USD-EGP 16. The Ministry of Finance had decided late last year to categorize imported products into luxury and essential goods, with essential goods having a reduced customs dollar rate and the luxury goods using the Central Bank of Egypt’s (CBE) exchange rate.
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