Thailand launches Kip services with Laos

Bangkok Bank has launched a Kip currency exchange service to enhance customer convenience and support trade and economic ties between Thailand and Laos.

Thanit Sirichote, Bangkok Bank's Global Payment Services manager, said that the bank has expanded its currency exchange service to include the Laos Kip, which will be available through its nationwide branch network. The Kip is the latest currency to be added to the bank's exchange service and it will accommodate the growing trade and economic ties between Thailand and Laos.

In 2010 cross-border trade between Thailand and Laos totaled more than Bt80 billion, an increase of 21.6 per cent compared with 2009. From January-May in 2011, the border trade amounted to Bt44 billion, an increase of 21.3 per cent year-on-year.

"Adding the Kip to our exchange services will provide a higher level of convenience for Thai and foreign customers who wish to change their money into Kip before travelling, or for Laotians wishing to exchange Kip for Baht at more than 30 border passes," Thanit said.