Egypt keeps customs dollar exchange rate at 16 pounds for January

Egypt will keep its customs dollar exchange rate steady at 16 pounds for January, the finance ministry said in a statement on Sunday.

“The decision is consistent with the currency price stabilisation in the past period,” it further said.

Egypt began setting a monthly fixed customs dollar exchange rate in January, following the flotation of its pound currency in early 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.