Source
r/laos•
TurnBackNowDog

Black market rates for USD, and places to exchange money?

Traveling to Laos soon, and I heard black market exchange rates are much higher, like 19-20k LAK for 1 USD vs the official rate of 15k.

Is there a website that tracks prevailing black market rates? What places to go to for doing the exchange in Viantiane and Luang Prabang?

Any other tips when exchanging money? For example, in Thailand, $100 bills get a slightly better rate than smaller ones.

For those in Thailand, does it make any sense to exchange THB to USD before going, and then get a good rate for USD to LAK, or is it better to just exchange THB for LAK directly?

Posted Aug 1, 2022, 11:04 PM UTC

118
oldcolon•

Riverside unmarked Chinese shop, best rates in town

Chinese exchange money https://goo.gl/maps/HR3t4DfuM1abcnM1A

1
TurnBackNowDogOP•

Great location too, thank you!

1
oldcolon•

I often just observe others transactions around town people getting offered horrible rates, a huge bummer is western union won’t accept inbound usd wires so you really need a usd or euro account at a bank

1
[deleted]•

[deleted]

1
oldcolon•

The official rate is a joke now

1
NonDeterministiK•

i got inbound usd at western union in laos several times. just send money to yourself. worked for me.

1
oldcolon•

Not as usd cash pickup for the past 9 months or so

1
carishmaoppo•

how did you do it?

1
knowerofexpatthings•

The recent crack down on exchange places has brought their rates much closer to the official rates

1
NonDeterministiK•

Yes, clean $100's are best. Some shops (eg, larger jewelry/ liquor stores) will exchange but don't advertise. Re thb/usd, with the preferential usd rate currently it might be slightly better to exchange to usd before arrival though normally this wouldn't make sense.

My guess is this good usd/lak rate will not be long lasting. This is because barring another virus scare there will soon be shitloads of tourists bringing foreign currency into Laos. But who knows?

1
knowerofexpatthings•

I don't think we are getting "shitloads of tourists" any time soon. The bad press Lao is receiving about the train, hotel bookings on OTAs not being accepted or bookings for hotels that have been closed, Lao Airlines not taking bookings months in advance, increasing visa fees, plus all the other issues the tourism industry faced pre-covid, are all adding up to making Laos a less and less attractive destination.

1
grvax1•

I have to echo this. I went there for two weeks last month and after coming back it is kind of hard to recommend it to any of my friends, especially the ones who don't have much travel experience. But I have to admit if I had only visited Luang Prabang my impression would have been much better.

1
NonDeterministiK•

Really, was there something that disappointed you? I agree that for average people looking for a Thailand-like experience with beaches, boat trips, shopping, fancy malls, cocktails at a rooftop bar, etc, Laos could be underwhelming. I also find Vientiane much less attractive now than it was a decade ago. But for me looking for authentic everyday experiences, decent friendly folks, classic asian landscapes, and a relaxed simple lifestyle, Laos is the best country in the region.

2
grvax1•

I think Vientiane ruined Laos for me. I spent 6 months in SEA visiting most of Thailand, Vietnam, Cambodia, Malaysia, and the only place I wanted to get out of ASAP was Vientiane. I got the feeling that city has been dead for a few years now and literally nothing was working any more. The poster above me also pointed out some things that I encountered.

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As for the pros you mentioned, it's true places like Luang Prabang provide these advantages, but most of the other SEA countries also seemed to have them (and once you are away from the tourist mega-hotspots the "authenticity" does come back).

1
NonDeterministiK•

I guess I'm assuming there'll be pent up demand especially from other Asian countries as Lao was pretty busy up to the pandemic. And, if the Chinese are allowed to travel soon, that train from Kunming won't have an empty seat for months.

1
[deleted]•

[deleted]

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