Three BCEL exchange units selling foreign currencies
Three BCEL exchange units selling foreign currencies
The public may now buy foreign currencies at three exchange units operated by Banque pour le Commerce Exterieur Lao Public (BCEL) to ensure better management and comply with government policy to encourage wider use of the kip, a senior official has said.
BCEL General Managing Director, Mr Vanhkham Voravong, told Vientiane Times yesterday the bank has two branches in the capital, as well as more than 10 service units and four exchange units.
“However, people who wish to buy foreign currencies should do so at three exchange units. One is in the Dongdok area in Xaythany district, the other is at the Lao Securities Exchange (LSE) in Xaysettha district, and the third is at Thongkhankham market in Chanthabouly district,” he said.
Each customer can purchase up to US$200 or 7,000 baht per day, and should bring their ID card, passport or family book to show staff at the units.
“It makes for better management and is designed to promote the government's policy on greater use of our country's national currency,” Mr Vanhkham said.
Foreign nationals who change foreign currencies into kip can present the bill of exchange if they later want to change kip back into their currency. Previously, service units could not sell large amounts of foreign currencies.
An employee of the BCEL exchange unit at the LSE said yesterday that about 100 people had come to buy foreign currencies each day since last week. They were mostly local people, who typically buy baht while some buy US dollars.
“Customers must fill in the form provided, and one person cannot buy two currencies in the same day,” she said.
A trader from Nonsagna village in Vientiane, Mr Bounsi, said he had gone to the LSE three days in a row to buy baht at the BCEL unit. Many others like him also wanted to buy foreign currencies, but he could get only 7,000 baht each day.
“I buy baht because I sell clothes and I have to use baht when ordering clothes from foreign suppliers. I take in kip when I sell the clothes in Vientiane,” he said.
According to BCEL's exchange rate yesterday, the US dollar was selling for 7,843 kip and the baht was selling for 245.95 kip.
vientiane times
