{"id":594595,"date":"2019-09-02T03:51:57","date_gmt":"2019-09-02T03:51:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/"},"modified":"2019-09-02T03:51:57","modified_gmt":"2019-09-02T03:51:57","slug":"egypt-scraps-monthly-customs-rate-bringing-back-daily-system","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/","title":{"rendered":"Egypt scraps monthly customs rate, bringing back daily system"},"content":{"rendered":"

<\/a> FinMin brings back daily customs rate, scrapping monthly system:<\/b> The Finance Ministry has decided to scrap the monthly customs exchange rate introduced in 2017 and will revert to setting the rate on a daily basis according to FX rates announced by the central bank, according to a ministry statement<\/a>. The daily rate system came into effect as of yesterday. The government had introduced the monthly system following the EGP float as an \u201cexceptional measure\u201d to stabilize the customs rate during a period of currency volatility, which is no longer necessary, the ministry said. The rate for non-essential imports was set at EGP 16.77 \/ USD 1 for July, while the discounted customs exchange rate was held at EGP 16.<\/p>\n","protected":false},"excerpt":{"rendered":"

FinMin brings back daily customs rate, scrapping monthly system: The Finance Ministry has decided to scrap the monthly customs exchange rate introduced in 2017 and will revert to setting the rate on a daily basis according to FX rates announced by the central bank, according to a ministry statement. The daily rate system came into […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[11104,72,276,2234,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-594595","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-customs-rate","tag-enterpriseam","tag-finance-ministry","tag-foreign-exchange","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7fcc7371-cfa7-40fd-81aa-66484d3eb439","is_powered_by":true,"section_story_id":"66d7996a-6cc4-4f2e-82da-3248f0f29fd1","story_type":"1","photo_url":"","photo_position":"above","related_issue":[594586],"teaser":"","voice_url":""},"yoast_head":"\nEgypt scraps monthly customs rate, bringing back daily system - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt scraps monthly customs rate, bringing back daily system\" \/>\n<meta property=\"og:description\" content=\"FinMin brings back daily customs rate, scrapping monthly system: The Finance Ministry has decided to scrap the monthly customs exchange rate introduced in 2017 and will revert to setting the rate on a daily basis according to FX rates announced by the central bank, according to a ministry statement. The daily rate system came into […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-02T03:51:57+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt scraps monthly customs rate, bringing back daily system\",\"datePublished\":\"2019-09-02T03:51:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/\"},\"wordCount\":123,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Customs rate\",\"EnterpriseAM\",\"Finance Ministry\",\"foreign exchange\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/\",\"name\":\"Egypt scraps monthly customs rate, bringing back daily system - 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Earlier this week, the Finance Ministry reversed a decision to set the customs exchange rate\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/776.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598696,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/02\/egypts-customs-exchange-rate-remains-unchanged-despite-strengthening-egp\/","url_meta":{"origin":594595,"position":1},"title":"Egypt\u2019s customs exchange rate remains unchanged despite strengthening EGP","author":"enterpriseam admin","date":"2 June 2019","format":false,"excerpt":"Customs exchange rate left unchanged despite strengthening EGP: The Finance Ministry left the discounted customs exchange rate for essential imports unchanged at EGP 16 for June despite the recent uptick of the EGP against the USD, according to a Customs Authority circular (pdf). An anonymous government official told Youm7 last\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594689,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/car-manufacturers-say-floating-customs-exchange-rate-adds-more-burdens-on-the-industry\/","url_meta":{"origin":594595,"position":2},"title":"Car manufacturers say floating customs exchange rate adds more burdens on the industry","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"Floating customs exchange rate adds to car manufacturers\u2019 concerns: The government\u2019s recent move to float the customs exchange rate presents additional obstacles for local car assemblers and could lead to more price increases in an already troubled market, Egyptian Automobile Manufacturers Association (EAMA) spokesman Khaled Saad told Al Mal. No\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651503,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/14\/finance-ministry-considers-canceling-fixed-customs-exchange-rate-as-egp-strengthens\/","url_meta":{"origin":594595,"position":3},"title":"Finance Ministry considers canceling fixed customs exchange rate as EGP strengthens","author":"enterpriseam admin","date":"14 February 2017","format":false,"excerpt":"The Finance Ministry is reportedly looking at moving to a floating exchange rate for customs, an unnamed government official tells Al Borsa. In a bid to stop the whining and gnashing of teeth immediately after the float, the ministry had directed the Customs Authority to set a monthly exchange rate\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596603,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/02\/egypts-customs-exchange-rate-remains-unchanged\/","url_meta":{"origin":594595,"position":4},"title":"Egypt\u2019s customs exchange rate remains unchanged","author":"enterpriseam admin","date":"2 July 2019","format":false,"excerpt":"The Finance Ministry has left the discounted customs exchange rate for essential imports unchanged at EGP 16 for July, Masrawy reported. 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