ATTRACTING a lot of attention in Thailand is Laos’ #SaveLaoKip campaign to protect their currency with Laotian shopkeepers no longer accepting both Thai baht and other foreign currencies but if necessary they will give the foreigners a lower rate than that officially set, Naewna newspaper said.

 

YouTube channel “Time to Share” revealed that many shops in Laos have kicked off this campaign to only trade in their currency kip and not accept Thai baht. An example is one shop announcing that they will not accept any foreign currencies with those coming in with Thai currency only getting 30,000 kip for 100 baht.

 

However the official rate for 100 baht is 61,318 kip. While the official rate for US$100 is 2.2 million kip, these shopkeepers will only give 800,000 kip.

 

by TNR Staff

TOP: Signs put up at Laotian shops stating Thai baht is not accepted but if necessary buyers will get 30,000 kip per 100 baht.

 

Full story: THAI NEWSROOM 2024-07-15

 

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Yeah, I can remember ack in the day, changing a 20 USD bill and getting two pockets full of Kip.  That Kip went a long way too.  Only place I have seen worse is Angola - the homeless burned the paper money for heat on the sidewalks and for cooking whatever they could find to eat.  One could find paper money scattered along the sidewalks.  Never used he local currency there.

Laos upto it's armpits in debt to the chinese, another country ruined by communism.

I can't blame the vendors for taking such action, it's a pity the government has sold the country out.

Communists obviously don't like Thai baht!

I remember my first trip to Vientiane back in 1987. When I was departing Wattay Airport I didn't quite have enough Lao Kip to pay the departure tax...  I reluctantly gave them a crisp green Aussie $100 note!

They gave me my change in Kip, filling a cardboard shoe box. I foolishly thought I could change it for Baht back in BKK.

Wrong!

I returned to Vientiane Christmas of '87 and used the shoebox full of Kip to pay for my hotel.

I was staying at the ANOU HOTEL at the time, with its floor to ceiling mirrors and no windows...  anybody know if it's still there?  In recent years I stayed at the LANXANG but never bothered finding out.

 

 

6 hours ago, Presnock said:

Yeah, I can remember ack in the day, changing a 20 USD bill and getting two pockets full of Kip.  That Kip went a long way too.  Only place I have seen worse is Angola - the homeless burned the paper money for heat on the sidewalks and for cooking whatever they could find to eat.  One could find paper money scattered along the sidewalks.  Never used he local currency there.

Aaah yes another benevolent Portuguese legacy!    I saw similar in Mozambique but not quite that bad.

3 hours ago, ChrisY1 said:

Communists obviously don't like Thai baht!

Reminder that Thailand recently has aligned itself with BRIC (Brazil, Russia, India, China) to "dedollarize" itself to trade in BRIC currencies.

3 hours ago, ChrisY1 said:

Communists obviously don't like Thai baht!

So, Laos, Cambodia, Vietnam, PRC?

4 hours ago, ChrisY1 said:

Communists obviously don't like Thai baht!

 

Of course they do, they ge double money from the baht.

Is this with the approval of the Communist Government? If not will maybe be shut down if it inhibits Thai bht trade . A lot of product crosses the border.

What a joke. It was actually a great way for them to get their hands on foreign currency.

On 7/15/2024 at 6:58 AM, Andycoops said:

Laos upto it's armpits in debt to the chinese, another country ruined by communism.

You don't see the contradiction??