Laos economy under distress as Lao kip drops to record low, breaches 20,000 to US dollar

Image from Laotian Times

VIENTIANE: The Lao kip has continued to depreciate against foreign currencies, reaching a historic low today in international markets.

While the Bank of the Lao PDR set the exchange rate today at LAK 19,917 to the US dollar, commercial banks have been selling at a rate that has dropped below LAK20,000.