Finance Minister Amr el Garhi on Tuesday devalued the customs dollar exchange rate to EGP 15.75 as of Wednesday till March 15.

The new tariff inched down by 25 piasters against the previous one, which was set at EGP 16.

The decline in the tariff exchange rate goes hand in hand with the recent retreat in the exchange rate of the US dollar, minister Garhi said.

Re-adjusting the customs dollar is carried out on a semi-monthly basis. 

On February 15, Egypt fixed the customs dollar rate at EGP 16 till end of February