Cairo – Mubasher: Eastern Co on Monday announced that the recent hike in customs dollar exchange rate introduced by the Central Bank of Egypt (CBE) does not apply to its products.
The decision will not affect its products produced inside the company’s factories in Egypt, therefore the prices will remain the same, according to a filing to the Egyptian Exchange (EGX).
On Sunday, the Ministry of Finance (MOF) stated that customs dollar exchange rate on unfinished imported products will be kept at EGP 16, including tobacco.
Last week, the MOF decided to raise customs exchange rate for non-essential goods and link it to the rate set by the CBE this month.
