Banking and financial services
Banking and financial services policy and regulation
BOL regulates currency exchange rates in bid to stabilise economy
The Bank of the Lao PDR (BOL) has issued a new Decision on the setting of currency exchange rates, as a guideline for commercial banks trading in foreign currencies.The move is aimed at enabling commercial banks to operate with a degree of flexibility in the ...
Association: fuel supply will be normalised in the near future
Residents of Vientiane are concerned about another fuel shortage with several petrol stations in the city being closed since Monday.However, the concerned sectors have issued reassurances that fuel will soon be available in sufficient quantities to meet daily demands. The fuel shortage has occurred at ...
Kip depreciation deals heavy blow to Lao economy
The Lao kip has plunged to a record low in recent days against the US dollar and Thai baht despite the government’s attempts to stabilise currency exchange rates.The value of the national currency has nosedived since the end of March, the Governor of the Bank ...
Banks, financial institutes ordered to defer principal and interest payments
The Bank of the Lao PDR has issued a decision ordering commercial banks and micro-financial institutes to postpone for three months – from May – deadlines for principal and interest payments for those who have borrowed loans for living expenses. The decision, dated May 13, 2021, ...
Laos' central bank to focus on currency management amid challenges
VIENTIANE (Vientiane Times) – Laos’ central bank will tackle challenges to ensure the stability of the kip and prevent it weakening further against the Thai baht, and ensure the rate of inflation stays below 5 per cent.Responding to questions about currency management from National Assembly ...
Laos: Central bank to circulate 2015 version of 500 kip note
VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR has announced that it will issue a 2015 version of the 500 kip banknote. It is giving advance notice of the circulation of the new banknote in a bid to prevent doubts about the validity ...
Training supporting local moves to adopt int’l accounting standards
VIENTIANE (Vientiane Times/ANN) – Laos is keen to adopt international accounting standards as part of efforts to upgrade public sector finance administration through capacity-building for finance officials countrywide.A five-day training of trainer programme to build these skills among officials has been jointly organised by the ...
Central bank imposes measures to stabilise kip
The Bank of the Lao PDR has imposed measures to help prevent the further depreciation of the kip against international currencies.According to a newsletter published by the central bank earlier this week, to prevent the kip sliding further against the US dollar and Thai baht, ...
Kip weakens against Thai baht, hurts Lao importers
VIENTIANE (Vientiane Times/ANN) – The continuously weakening value of the Lao kip against the Thai baht has hurt businesses in Laos, especially those engaged in import operations, forcing them to accept a cut in profits.As of September 2, the exchange rate at the Banque pour ...
Laos to Tighten Management of Exchange Rates
The Lao government has stressed the need to tighten the management of currency exchange rates amid the widening gap between the official and market rates.In a media release issued at the end of the cabinet’s monthly meeting on August 19, the government said the increasing ...
The Laotian Times