Egypt has decided to cut the price of the dollar to 16 pounds from 16.25 pounds for one month from September 1, Egyptian Finance Minister Amr al-Jarhi said on Monday.
The customs dollar is used to calculate the value of the fees paid by the importer in local currency for the customs release of imported goods.
Al-Jarhi said in a telephone conversation with Reuters that the decision to reduce the dollar rate of customs came "consistent with the movement of the currency price down during the last period.
This is the second reduction of the customs dollar after it was installed for four months.
The dollar is traded in Egyptian banks at about 17.75 pounds on average, compared to 17.95 pounds a month ago.