Discussion in 'General Discussion' started by Mr.John, Nov 5, 2013.
Does any one know where to buy $US? Not black mrkt rates. I need to buy $1000.
have you try the exchange shop at the opposite of French language center on Lanxang road? there are several shops you can find there.
Those small exchanges all sell at very high black market rates. my salary here is in kip. I need to have an operation in Thailand but banks will only sell a max of $200 or 7000 Baht! What do Lao people do if they have a medical emergency and need to get treatment in Thailand. Did the Bank of Lao consider this when issuing their exchange policy?!
How much are these black market rates?
They are not black market, they are legalized and are under control by the BOL. This is caused by the promotion of using kip in the country. And the bank is strictly not to sell more dollar.
Most Lao people using local hospital for treatment, but there are majorities of higher income family who choose to go to Thailand and they don't mind to do the exchange with the shop I mentioned.
I'd like to know the difference between the "black market" rate and the BOL rate.
From what I've heard, these so called exchange houses sell with a difference of 100 Kip per dollar (compared to BOL).
But if you just exchange a few bucks I can't imagine that they give you this rate...
Let's do the math for you.
1.000$ should be around 8.000.000 Kip.
Whereas BOL's rate would be 7.900.000 Kip but that's only theoretical because you won't find a bank that's willing to sell you 1.000$.
Honestly, under these circumstances the 100.000 Kip (loss) doesn't sound too bad if you really need US$.
That's not a bad rate at all, unless you're really penny-pinching. I was just at BCEL about an hour ago and they told me today they are not selling any USD.
Phoneviseth, I'd say upper class Lao usually have enough Baht or USD lying around to pay any hospital bill they could need.
If the operation is in Thailand, why not change kip to baht? Either way you have been given the way to go... Legal currency exchanges will sell USD or Baht. If they have a license to operate as a currency exchange they are not, by definition, 'black market'.
theres a daily limit of 7000 baht or $300 you can buy! xchange places on Lanexang selling dollars at 8200.
So go there with a friend and within 2 days you have your 1.000$ (2 x 300$ = 600$ per day) ^_^
If necessary go there with a bunch of friends. 10 friends * 300$ = 3.000$ per day lol
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