March 15, 2017 / 8:36 AM / 5 months ago

Egypt softens customs exchange rate to 17 pounds/dlr from 15.75, from March 16

CAIRO, March 15 (Reuters) - Egypt will soften its customs exchange rate to 17 pounds per dollar from 15.75, effective from March 16, Finance Minister Amr El-Garhy told Reuters on Wednesday.

Egypt began setting a monthly fixed customs exchange rate in January following the flotation of its pound currency in November and has since moved to set it every two weeks. (Reporting by Ehab Farouk; Writing by Asma Alsharif; Editing by Hugh Lawson)

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