Background The information provided below will help you understand the evolution of foreign exchange management by the Lao PDR government (the “GOL”) and the current situation. Prior to the year 2023, the GOL and its authorities took a relatively relaxed approach to managing foreign currency. Although the Law on Foreign Currency Management (dated 22 December […]

On 7 March 2024, the Bank of the Lao PDR (“BOL”) issued Decision on the Management of Foreign Currency Revenue from Goods and Services Exports No. 333/BOL (“Decision 333”) to manage foreign currency revenue from export activities and build foreign currency flexibility into the banking system. Export operators are required to import the payments (in […]

On 14 June 2022, the Bank of the Lao PDR (the “BOL”) issued Decision No. 449/BOL (“Decision 449”) to manage currency exchange services provided by commercial banks and currency exchange bureaus operating in the Lao PDR. The purpose is to ensure the stability of the Lao Kip (“LAK”), which has weakened considerably against the U.S. dollar, and has been trading on the domestic market at a value below the BOL’s official exchange rate, and to close this exchange rate gap. Effective immediately, Decision 449 replaces Decision No. 109/BOL dated 1 February 2019.