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 gap between the official and market exchange rate is having a negative impact on the price of consumer goods in Laos.

Most consumer goods in Laos are imported, so when the value of the kip drops against the major foreign currencies such as US dollars or Thai baht, product prices rise accordingly.


The Laotian Times