Bank of the Lao PDR (BOL) has announced the release of two new banknotes to increase the quality of currency being printed and prevent forgery.
Director General of Cabinet Office, Mr. Phetsathaphone Keovongvichith, and Director General of Currency Issuing Department, Mr. Bounthavy Soukdavong, said in a press conference that starting this month the new editions of the LAK 10,000 and LAK 20,000 banknotes, will be put into circulation.
These two banknotes have been in circulation for 19 years and were first issued in 2003, as the highest denomination notes available at the time.
In 2018, the Bank of the Lao PDR managed to improve the designs of LAK 10,000 and LAK 20,000 notes since their first issuance and requested approval from the government which they received in 2020.
LAK 10,000 banknote from 2003 and the new banknote from 2020.
LAK 20,000 banknote from 2003 and the new banknote from 2020.
Bank of the Lao PDR stated that the purpose of issuing new banknotes is to increase their quality and standard in comparison to the banknotes issued by neighboring countries and to prevent any counterfeit attempts. E.g. when placed under a red light, Laos’s national emblem glows yellow; when exposed to light, the watermarks of President Kaysone Phomvihane and the numerals can be seen on both the front and back sides. The color schemes of the previous designs have been retained for the new notes.
Bank officials have assured that the circulation of the new banknotes will not impact the stability of the national currency. Banknotes in circulation from 2003 can still be used to purchase goods and avail services, Bank of the Lao PDR will not cancel their usage.
