Money exchange units banned from selling foreign currency

Money exchange units that represent commercial banks are now prohibited from selling foreign currency, according to the Bank of the Lao PDR. Became effective on October 11, the ban supports the government’s attempts to give commercial banks a greater role in the purchase and sale of foreign currencies, while limiting the role of money exchange units in currency trading. Under the new policy, money changers will be allowed to buy foreign currencies from customers but are forbidden to sell currencies other than kip.

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Times Reporters