Promotion of Local Currency and Goods To strengthen the use of the Lao kip and reduce dependency on foreign currencies, the government plans to encourage the public to prioritize local goods and ...

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Relieved of the need to keep its currency afloat, the central bank could focus on addressing the country’s worsening foreign debt crisis.

The Lao kip, however, given its close link to the Thai baht, was particularly vulnerable to the exchange rate volatility that rocked the region. Between July 1997 and June 1998, the kip lost 70 ...