Bank of Laos Launches Centralized Forex Market Initiative
Sunday, 11 August 2024, 04:23
Bank of Laos to Establish Centralized Forex Market
The Bank of Laos (BOL) is taking significant steps to stabilize the troubled Lao kip by launching a centralized foreign exchange market. This initiative is supported by a Memorandum of Understanding (MOU) signed between BOL and 15 commercial banks.
Aims of the New Forex Market
- Improve liquidity in the market.
- Enhance transparency in pricing mechanisms.
- Stabilize the national currency, the Lao kip.
This move is expected to bolster the efficiency of foreign exchange operations across the nation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.