Laos currency Kip depreciation continues to harm Lao economy

VIENTIANE, Oct 8 (Xinhua): The Lao kip fell in value by 37.4 per cent against the US dollar and 32.9 per cent against the Thai baht in the official market from January to August 2022, according to an updated report from Asian Development Bank (ADB) website.

The continuing depreciation of the kip is linked to a supply-demand mismatch of foreign currencies, ramping up pressure on importers and driving up inflation.