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LAOS
Baht Appreciation
July 17, 2007

Central bank intervenes to shore up the kip
The national bank of the Lao PDR injected more Thai currency into the economy last week in response to the current appreciation of the Thai Baht against the Lao currency, which has created hardship for most Lao consumers as well as importers, a VOA report said.

The move, according to Lao officials, was to prevent black-market speculation and to scuttle the continued devaluation of the Kip, which had gone from around 260 kips to a baht last year to 285 Kip now. VOA

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