Laos steps up efforts to boost foreign currency reserves

VIENTIANE: The Lao central bank, the Bank of the Lao PDR, is taking more steps towards monetary stability, especially by ensuring that more of the foreign currency that enters Laos is handled through the banking system to boost foreign reserves.

The bank has set a target to ensure that at least 70 per cent of export earnings enter the banking system and that foreign reserves are sufficient to guarantee five months of imports, Lao national TV reported on Tuesday (Feb 13).