Agencies - Abu Dhabi
The Egyptian Customs Authority intends to set the rate of customs dollar on an annual basis starting next Monday.
Egypt's customs authority said on Sunday that Egypt would start setting the price of the customs dollar on a daily basis from September 2.
The rate of the customs dollar was set at 16.6230 pounds against the dollar on Monday, according to a bulletin of the Customs Authority.
Egypt has set the price of the customs dollar at 16 Egyptian pounds against the dollar for commodities, at a moving rate adjusted on a monthly basis for non-commodities. According to Reuters.