Egypt to keep customs exchange rate at 16 pounds in January

By Kitco News / December 31, 2017 / www.kitco.com / Article Link

Cairo, Dec 31 (Reuters) - Egypt will keep its customs exchange rate steady at 16 pounds per dollar for January, the finance ministry said on Sunday.

"The decision is consistent with the currency price stabilization in the past period," it said in a statement.

Egypt began setting a monthly fixed customs exchange rate in January, following the flotation of its pound currency in November 2016. It has since set it each month.

The pound has remained roughly at the same level in recent months, trading at around 17.69 to the dollar on Sunday.($1 = 17.6900 Egyptian pounds)


(Reporting by Ehab Farouk; Editing by Gareth Jones)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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