Banks reveal public’s preference for foreign currencies over kip
VIENTIANE (Vientiane Times/ANN) – Businesses and the general public prefer to deposit their money in foreign currency accounts despite the Bank of the Lao PDR actively promoting use of the national currency.
According to the latest annual report from the Bank of the Lao PDR, the proportion of kip deposited in the banking system was estimated at only 45.8 percent of all monies deposited. All of the remaining deposits were lodged in foreign currency accounts.
Ekaphone Phouthonesy
