The Lao government last week approved a 10-12% hike in gasoline price, forcing the value of the Kip down from 10,350 to 10,435 Kips to a U.S. dollar. The hike, the second in one month, was brought about by rising oil price on the world market.
Both the Lao government and the Asian Development Bank say rising gasoline price will undoubted affect the economy, slowing the growth rate by at least one percent.
Listen to our Laos Today report for detail.