Foreign exchange is under official control. The basic regulation
requires all foreign exchange earnings to be repatriated to Egypt
within 6 months after the shipping date of the goods. The law requires
that all dollar holdings or payments received by Egyptian nationals or
foreigners residing in Egypt be reported to the Egyptian Government and
converted into Egyptian currency at the official rate unless they are
the proceeds of cotton yarn and cloth or raw cotton exports in which
cases 100 percent or 75 percent, respectively, of the dollars may be
retained for up to 210 days in an "import entitlement" account usable
to buy certain listed essential and semiessential commodities.