BOL reports dip in inflation, currency exchange rates

The inflation rate dropped from 24.3 percent in August to 21.7 percent in September, while the kip exchange rate is stabilising and trending upwards.
According to the Paxason Daily newspaper’s Facebook page, which was updated on Thursday, these figures were cited at a meeting of the Board of Directors of the Bank of the Lao PDR (BOL) on Wednesday.

Acting Governor of the Bank of the Lao PDR, Mrs Vatthana Dalaloy, chairs a meeting of the Board of Directors on Wednesday.

The meeting was chaired by the bank’s Acting Governor, Mrs Vatthana Dalaloy, who is also chair of the bank’s Board of Directors.
The meeting heard that as of September 20 the value of the kip against the US dollar increased by 0.16 percent (from 22,136.40 kip/dollar to 22,100.00 kip/dollar) and against the Thai baht by 0.35 percent (from 683.43 kip/baht to 681.08 kip/baht) compared to the figures for August.
The exchange rate between the commercial bank and the market is recorded at 12.14 percent for kip against the US dollar and 1.93 percent for the kip against Thai baht.
In summary, the kip continued to depreciate over the first nine months of 2024, but at a slower rate compared to 2023, the Paxason Daily reported.
Reports were also given about the progress made in drafting several important documents, implementation of the currency plan and the bank’s main activities over the first nine months of this year, and the direction to be followed under the three remaining months of this year’s work plan.
Participants contributed comments about the contents of the documents under discussion so they could be explored in depth and appropriate solutions identified and conclusions reached for practical implementation.
The meeting was attended by the Deputy Governors of the BOL, the Board of Directors, and representatives of various bank departments.

By Times Reporters
 (Latest Update October 4, 2024)