Discussion in 'General Discussion' started by Peter, Oct 2, 2013.
when will the valuf of the kip stop falling against the dollar? any insight? thanks
I'm not a forex trader but in the last few years I think 2005/6 was the best for the Kip at about 10,552 =$1. The reasons are many, a countries politics, its GDP. For Laos? - forex rates will be decided on world and economic events. Laos isnt communist as such but it is a one party state. The rate has increased a tiny bit since the Dollar took a hit because of the federal close down beginning. All we need to hope is that it doesnt last months. A good example would be the GBP/USD. Last week it was trading at $1.55USD = £1 GBP. Today its just over $1.62USD =£1GBP. Doesnt really have an affect on most of us but if you were trading £10,000GBP Last week you would have got $15,500USD but if you had held off until today to trade you would have got $16,200USD, thus you would have "made $700USD". I remember getting 20,750 LAK = £1. Laos in the nineties and noughties - Ooooohhhhhhhhhhh happier days eh.
I think it's the dollar that's falling against a basket of currencies. If the kip continues to appreciate against the dollar and other foreign currencies, it's not going to attract too many tourists here.
I remembered years ago when Laos was cheaper and exchanging a $100 bill to kip would give me god-like spending power . Now, it goes by in a blink of an eye .
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