Egypt sets customs exchange rate of 18.64 pounds/dollar in June

Egypt has set a customs exchange rate of 18.64 Egyptian pounds to the U.S. dollar in June, a change from 17 in May, the customs authority said in a statement on Wednesday.

Egypt devalued its pound by 14% in March after foreign investors pulled billions of dollars out of Egyptian treasury markets, putting pressure on the currency, following Russia's Feb. 24 invasion of Ukraine.