Currency exchange in Laos: A complete guide for travelers

If you're planning a trip to Laos , understanding the local currency and the best ways to exchange money is essential for a smooth trip. Let Hanoi Voyages help you navigate currency exchange in Laos!

Lao’s exchange rates: What travelers need to know?

The official currency of Laos is the Lao Kip (LAK), and it's the most commonly used form of payment across the country. While some businesses in major cities may accept US dollars or Thai Baht, it’s always best to carry Lao Kip for convenience.

Exchange rates fluctuate, so always check the latest rates before exchanging money. As a general reference. It’s best to use a currency converter app or check with banks and exchange booths for the most accurate rates.

• 1 USD ≈ 21,667 LAK

• 1 EUR ≈ 22,721 LAK

• 1 THB ≈ 644 LAK

The Lao Kip is available in banknotes only (there are no coins), with denominations of 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 Kip. It’s advisable to keep smaller bills for local markets and small vendors, as they may not always have change for larger denominations.

Where to exchange money in Laos?

Knowing the best places for currency exchange in Laos can help you get better rates and avoid unnecessary fees during your Laos tour. Here are the most reliable options:

Exchanging money at banks

Banks in Laos are one of the safest places to exchange money, offering official exchange rates and secure transactions. The major banks providing currency exchange services include:

• BCEL (Banque Pour Le Commerce Extérieur Lao )

• Lao Development bank

• Agricultural Promotion bank

• Nayoby bank

• Lao-Viet bank

Most banks operate from Monday to Friday, 8:00 AM to 4:00 PM, with some branches open on Saturdays. While banks provide reliable exchange services, the process can be slow due to long queues and paperwork. You will also need to present your passport when exchanging money at a bank.

Currency exchange booths

Currency exchange booths are widely available in tourist areas, markets and shopping districts. These booths often offer competitive exchange rates similar to banks but with faster service. Some of the best places to find exchange booths are in Vientiane and Luang Prabang. While exchange booths are convenient, comparing rates between different booths before exchanging large amounts is always a good idea.

Exchanging money at hotels

Some hotels in Laos offer currency exchange services for the convenience of their guests. While this can be a quick and hassle-free option, especially if you need cash urgently, the exchange rates provided by hotels are often less favorable than those offered by banks or official exchange booths. Additionally, some hotels may charge service fees or have limited currency options, meaning you might not always get the best deal.

If you need money for immediate expenses, such as transportation or meals, exchanging money at your hotel can be a convenient solution. However, for larger transactions, it is recommended to visit a bank or currency exchange booth to get better rates and avoid unnecessary fees.

Currency exchange at airports

Currency exchange counters are available at Wattay International Airport (Vientiane) and Luang Prabang International Airport, but their exchange rates tend to be less favorable than those in the city. If you need cash immediately upon arrival, it’s best to exchange only a small amount for transport and exchange the rest at a bank or exchange booth in the city.

Money exchange tips for Laos travelers

Managing currency exchange in Laos effectively can help travelers avoid high fees, get the best rates, and ensure a smooth trip. Below are essential tips for handling currency exchange in Laos.

Always count your money before leaving the exchange counter

Whenever you complete a currency exchange in Laos, double-check your money before leaving the exchange booth or bank. Count your Kip in front of the teller to ensure you received the correct amount. If any discrepancies arise, it’s much easier to resolve them on the spot rather than later.

Compare exchange rates before exchanging money

Exchange rates can vary between banks, currency exchange booths, and hotels. To get the best deal, check and compare rates before exchanging large amounts.

• Banks and official currency exchange booths offer the most reliable rates for currency exchange in Laos.

• Hotels and guesthouses provide exchange services but often have less favorable rates.

• Airports offer convenience but typically have the worst exchange rates.

For the latest rates, use a currency converter app like XE or Google Currency Converter before heading to an exchange counter.

Avoid exchanging money at airports unless necessary

While currency exchange in Laos is available at major airports like Wattay International Airport in Vientiane and Luang Prabang International Airport, the rates there tend to be lower than in the city. If you need cash upon arrival, exchange only a small amount at the airport for transportation and other immediate expenses. Once in town, find a bank or currency exchange booth for better rates.

Handling currency exchange in Laos wisely ensures that you maximize your money and avoid unnecessary fees. By following these tips, you can enjoy a stress-free Laos tour without worrying about money issues. For a seamless Laos tour, let Hanoi Voyages plan your journey. Contact us today and explore Laos with confidence!