On August 6th, 2024, Minister of Finance Youssef El Khalil sent to the Council of Ministers a request to apply an exchange rate for the US dollars for the purpose of recording revenues and expenses of the ministry in its treasury accounts and the release of financial statements, as per the table below. The Ministry of Finance justified this request as follows:
| Period | ||
| 2020 & 2021 | 1,507.5 | |
| Exchange Rate for Fresh USD | Exchange Rate for Local USD | |
| 01/01/2022 – 31/07/2022 | 1,507.5 | 1,507.5 |
| 01/08/2022 – 31/12/2022 | Sayrafa Rate | 1,507.5 |
| 01/01/2023 – 31/01/2023 | Sayrafa Rate | 1,507.5 |
| 01/02/2023 – 31/12/2023 | Sayrafa Rate | 15,000 |
| 01/01/2024 – 13/02/2024 | Sayrafa Rate | 15,000 |
| 14/02/2024 Onwards* | 89,500 | 15,000 |
*Until the release of a new decision
In its meeting on August 14th, 2024, the government took a note about the decision and then MoF circulated the decision to the Central Bank.
Disclaimer :
This article is a research document that is owned and published by Blominvest Bank SAL.
No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.
The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.
Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.
This research article is prepared for general circulation and is circulated for general information only.