Lao currency kip continues to depreciate despite government measures

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VIENTIANE (Laotian Times): The Lao government is taking steps to address the ongoing depreciation of the national currency, the Lao kip, and the skyrocketing inflation rates. However, challenges remain as the country continues to struggle with economic recovery since the Covid-19 pandemic.

Soulisack Thamnouvong, Director General of the Monetary Policy Department, recently mentioned that the Bank of Laos (BOL) is collaborating with various sectors including tourism, mining, and agriculture to boost foreign direct investment (FDI) and attract more foreign currency revenues.