Cairo fixes US dollar price for importing foodstuffs

The Egyptian government decided yesterday to fix the price of one Dollar at 5.35 Egyptian pounds in order to finance supplies of basic foodstuffs. The decision was taken amid a shortage in the barely used in producing wheat.

Following a meeting for the government, the Egyptian minister of information Safwat al-Sharif said "it was decided to fix the costumes dollar at 535 piaster for imports of basic commodities which are wheat, flower, corm sugar, table oil and oils used in producing industrial ghee, and lentils."

This price, however, is much less than that the dollar exchange rate which reached yesterday one dollar for every 6.15 Egyptian pounds. The decision aims at stopping the increase in the price of white bread and spaghetti and withstanding the great turnout for the traditional bread consumed by most of the Egyptians.

After the meeting which is considered the fourth within 10 days, al-Sharif said that the "government also adopted restrictions of tough monitoring on markets and availing the opportunity to governors and local councils to take appropriate decisions to produce and distribute bread and maintain control of markets according to the needs of each governorate."