{"id":651599,"date":"2017-02-16T04:17:55","date_gmt":"2017-02-16T04:17:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/"},"modified":"2017-02-16T04:17:55","modified_gmt":"2017-02-16T04:17:55","slug":"finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/","title":{"rendered":"Finance Ministry sets custom rate at EGP 16 for the USD 1, customs revenues reach EGP 14.5 bn"},"content":{"rendered":"<p><strong>The Finance Ministry has revised its exchange rate for customs duties to EGP 16.00 per <\/strong><strong>USD<\/strong> from EGP 18.50 per greenback, <a href=\"http:\/\/www.alborsanews.com\/2017\/02\/15\/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%AA%D9%8F%D8%AE%D9%81%D8%B6-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D8%A7%D9%84%D8%AC%D9%85%D8%B1%D9%83%D9%89-%D8%A5%D9%84%D9%89-16-%D8%AC%D9%86\/\">Al Borsa<\/a> reports. The ministry will also review the exchange rate to be used to calculate customs every 15 days instead of every 45 days, as had been the practice. The story was also picked up by <a href=\"http:\/\/www.reuters.com\/article\/egypt-economy-customs-idUSL8N1G06RF\">Reuters<\/a>, which said the rate came on the back of \u201csignificant strengthening\u201d of the EGP in recent days. Customs revenues reportedly topped EGP 14.5 bn during the first seven months of FY2016-17, with the Customs Authority budgeting for inflows of EGP 27.4 bn throughout the fiscal year, unnamed government sources tell <a href=\"http:\/\/www.alborsanews.com\/2017\/02\/15\/14-5-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%AD%D8%B5%D9%8A%D9%84%D8%A9-%D8%A7%D9%84%D8%AC%D9%85%D8%A7%D8%B1%D9%83-%D8%A8%D9%86%D9%87%D8%A7%D9%8A%D8%A9-%D9%8A%D9%86%D8%A7%D9%8A\/\">Al Borsa<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry has revised its exchange rate for customs duties to EGP 16.00 per USD from EGP 18.50 per greenback, Al Borsa reports. The ministry will also review the exchange rate to be used to calculate customs every 15 days instead of every 45 days, as had been the practice. The story was also [&hellip;]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-651599","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7ebb196f-e3cf-4cc8-9a1d-7fb90d9ab2dd","order":"0","is_powered_by":true,"section_story_id":"22e849de-d4ed-4b06-be5c-1b0cfe060817","story_type":"1","photo_url":"","photo_position":"above","related_issue":[651589],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Finance Ministry sets custom rate at EGP 16 for the USD 1, customs revenues reach EGP 14.5 bn - 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\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry sets custom rate at EGP 16 for the USD 1, customs revenues reach EGP 14.5 bn\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry has revised its exchange rate for customs duties to EGP 16.00 per USD from EGP 18.50 per greenback, Al Borsa reports. The ministry will also review the exchange rate to be used to calculate customs every 15 days instead of every 45 days, as had been the practice. The story was also [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-16T04:17:55+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\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Finance Ministry sets custom rate at EGP 16 for the USD 1, customs revenues reach EGP 14.5 bn\",\"datePublished\":\"2017-02-16T04:17:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/\"},\"wordCount\":121,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/02\/16\/finance-ministry-sets-custom-rate-at-egp-16-for-the-usd-1-customs-revenues-reach-egp-14-5-bn\/\",\"name\":\"Finance Ministry sets custom rate at EGP 16 for the USD 1, customs revenues reach EGP 14.5 bn - 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An anonymous government official told Youm7 last\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":594595,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/02\/egypt-scraps-monthly-customs-rate-bringing-back-daily-system\/","url_meta":{"origin":651599,"position":1},"title":"Egypt scraps monthly customs rate, bringing back daily system","author":"enterpriseam admin","date":"2 September 2019","format":false,"excerpt":"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. 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Earlier this week, the Finance Ministry reversed a decision to set the customs exchange rate\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":596603,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/02\/egypts-customs-exchange-rate-remains-unchanged\/","url_meta":{"origin":651599,"position":3},"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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