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Media personnel urged to promote KIP dominance
The Bank of the Lao PDR in cooperation with the Ministry of Information and Culture yesterday convened a meeting of media practitioners and editors on the media promotion of the public use of the national currency Kip.
Regulations on foreign currencies management play an important role in creating favourable conditions for the national economic development and the sustainable economic growth, according to Office Head of the Ministry of Information and Culture, Mr. Khanthong Manotham.
“At present, to some extent, we have achieved in promoting the public use of Lao kip and foreign exchange management as many sectors have participated in our campaign to promote Lao Kip use. Shops and business operators label prices of goods and services in the national currency,” said Mr. Khanthong.
“Ministries, equivalent agencies, provincial authorities have intensified their effort in raising public awareness on the promotion of national currency, the government policy on foreign currencies management and the limitation of foreign currency circulation in the dark market,” said Mr. Phetsathaphone Keovongvichith, Deputy Director, Department of Monetary Policy, Bank of the Lao PDR.
“Anyone is required to change foreign currencies into Lao kip with commercial banks or money changers authorized by the Bank of the Lao PDR,” said Mr. Phetsathaphone.
KPL Lao News Agency
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