Expectations of a 15-dollar reduction in the US dollar as the US currency declines in banks

Economy and stock exchange

The price of the dollar for commodities is expected to be reduced to 15 pounds per dollar by the beginning of next month, June 2019, from its current level of 16 pounds, due to the decline in the price of banks in the past five months, a government official said on Monday.

The source pointed out that the price of the customs dollar is subject to the exchange rate announced by the Central Bank and contributes to the increase in the value added tax of the provocative and recreational goods. The price is reviewed periodically, every month, and announced at the beginning of the month of May .

The customs dollar is defined as the price that estimates the rate of customs duties and taxes on imports of goods from abroad. This is the price that changes daily according to the dollar exchange rates in banks. There were demands from companies and importers of commodities to fix the dollar exchange rate to prevent fluctuations in prices of imported goods. Abroad and the accounts and profits of those companies.

The price of the dollar in banks, according to the average price of the Central Bank of Egypt 16.81 pounds to the dollar, to buy, while the sale price of 16.91 pounds to the dollar.

With the beginning of May 2019, the Ministry of Finance decided to fix the price of the customs dollar at its current rate of 16 pounds for strategic and necessary goods and other goods listed in the tariff table and foreign parts and components imported from the factories either subject to the provisions of Article VI of the Republican Decree No. 419 of the year 2018 or subject to the full product clause in accordance with rule 2 / a of the General Rules for the interpretation of the Harmonized System, and the price of the customs dollar was set at 17.5913 pounds for non-core goods.

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Ministry of Finance