The Finance Ministry denied on Friday social media reports on raising the price of customs dollar used for import deals in Egypt, making it clear that the customs dollar is no longer exists.

In a statement, the ministry’s media observatory said there are unofficial Facebook pages that publish “posts” related to the administrative work system at the Customs Authority, saying there is no longer the so-called “customs dollar”.

However, it is just the daily spot exchange rates of the EGP against major currencies announced by the Central Bank of Egypt, according to the statement.

Source: State Information Service Egypt