Laos installs new central bank chief, limits FX sales

Laos installs new central bank chief, limits FX sales

Laos lawmakers on Monday approved the appointment of a new central bank chief and two deputy prime ministers, according to state media.

Former Deputy Minister of Finance Bounleua Sinxayvoravong was appointed the new governor of the central bank, Lao News Agency reported, taking over at a time when the neighbouring country is feeling the impact of rising global inflation.

The central bank on Monday introduced new rules requiring commercial banks and currency exchange kiosks to limit the daily sales of foreign exchange to 15 million kip ($1,002) per person, according to media.

Commercial banks will also be required to prioritise organisations that buy "fuel, medicine or other essential goods imported from abroad", the Laotian Times reported.

Meanwhile, Foreign Affairs Minister Saleumxay Kommasith and Public Security Minister Lt Gen Vilay Lakhamfong took on added roles of deputy prime minister.

The National Assembly also approved the appointments of new heads of the Industry and Commerce Ministry and State Audit Organisation, state media reported.

Do you like the content of this article?

Chinese carriers go on Airbus buying spree

Airbus has won one of its biggest ever single-day hauls, selling almost 300 airliners worth more than $37 billion to four Chinese airlines in a coup for the European manufacturer in its tussle with Boeing for dominance in Asia’s largest economy.


Pyongyang blames Covid on ‘alien things’

North Korea has claimed that people who had touched “alien things” near the border with South Korea were the first to be infected with the coronavirus.


Rock icon reunited with stolen guitar after 46 years

TOKYO: They say you never forget your first love, and after pining for his stolen guitar for almost half a century, Canadian rock star Randy Bachman has finally been reunited with the instrument which an eagle-eyed fan tracked down in Japan.