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Bank of Laos Issues Warning Over Counterfeit Yuan Bills in Luang Prabang

This Week

The Bank of Laos in Luang Prabang has issued a warning about counterfeit banknotes after reports surfaced of CNY 100 bills (worth about USD 13.64 each) being used for purchases in the province. 

The fake bills were reportedly used for purchases at local markets and tourism spots. 

Chinese man arrested in LPB.
Chinese man arrested in LPB.

On 24 December the authorities arrested a Chinese national, who was reportedly caught circulating some of the fake yuan banknotes. The police have not released the details of the arrest. 

According to the investigation team, the counterfeit banknotes contained serial numbers, colors, and patterns similar to real ones.

As the news spread on social media, users urged authorities to step up their efforts.. However, many pointed out that the focus shouldn’t only be on counterfeit banknotes but also on strictly enforcing the long-standing ban on foreign currency use, a persistent issue across the country. 

“Merchants and stalls accepting counterfeit banknotes should be punished for accepting foreign currency as well,” one Facebook user wrote.  

“The government needs to tighten the Lao kip-only policy even more to completely eliminate such issues,” another comment reads.

Under Lao foreign exchange laws, individuals, businesses, and organizations must exchange foreign currencies at commercial banks before making any purchases in Laos, including goods, services, debts, salaries, and government obligations.

The use of foreign currencies and counterfeit banknotes is prohibited.

The Bank of Laos further urged individuals who come across counterfeit banknotes to report them to provincial authorities, the bank itself, or other local financial institutions.

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