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 purchase and sale of foreign currencies, thus helping to stabilise the value of the kip. Under the two-page Decision signed by the Governor of the central bank, Dr Bounleua Sinxayvoravong, commercial banks are permitted to set their rates of exchange each day based on the reference rate determined by the BOL.
Somsack Pongkhao
