🌱 Vietnam, Laos promote payments in local currencies to boost trade
Expanding local currency usage will offer businesses greater flexibility in payment options, lowering transaction costs and easing foreign currency demand pressures.
Keyword: "Bank of the Lao PDR"
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🅠 Lao central bank launches Capital Flow Management System
The Bank of the Lao PDR (BOL) has recently launched the Capital Flow Management System (CMS) to enhance foreign exchange management and improve financial stability in the country.
Laos tightens monetary policy to ease inflation
The Bank of the Lao PDR is set to further increase interest rate on Lao kip deposits from 10% to 10.5% per year to alleviate inflationary pressures currently affecting the economy, reported the Vientiane Times.
♔ Foreign investors required to open bank accounts in Laos
The Bank of the Lao PDR (BOL) has issued a decision on the regulation of foreign currency, which requires foreign investors to open specific bank accounts in Laos to process their financial transactions.
🍬 Bank Indonesia, Lao central bank strengthen bilateral cooperation
Bank Indonesia (BI) and the Bank of the Lao PDR (BOL) have signed a Memorandum of Understanding (MoU) to strengthen relationship between the two central banks.
Laos, China sign currency settlement agreement
Laos and China have agreed to facilitate the direct exchange of the Lao kip (LAK) and the Chinese yuan (CNY) instead of having to making conversions through other currencies previously.