Cabinet Intensifies Action to Stabilise Economy
The Lao government is intensifying their action to revitalize its fragile economy.
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foreign currency management Laos
Central Bank Tightens Monetary Policy
The move is aimed at reducing the amount of money in circulation and curbing the spiralling inflation rate, which was recorded at 9.9 percent in April.
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Fuel Prices, Currency Depreciation Drive Up Inflation In Laos
Fuel prices have increased six times in a period of just two months and 10 days, sparking greater concerns about the rising cost of living in Laos.
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Laos Suffering From Limited Sources Of Foreign Currency
Source: Vientiane Times Laos needs at least US$4 billion in foreign currencies to purchase goods from other countries each year,
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Central Bank To Focus On Currency Management Amid Challenges
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 percent.
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Kip Weaker Against Thai Baht, US Dollar
There is growing concern about the strengthening of the Thai baht and US dollar against the Lao kip.
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