Laos kip bad exchange rate


#1

Hi,

I just checked the Laos kip rate in the Revolut app and it’s around 8400 kip per euro. The interbank rate seems to be around 8670. Meaning Revolut exchange rate is almost 3% lower! How can this be? I thought Revolut only gave bad rates for Thai baht?


#2

I just noticed that late in the evening (lao time) the exchange rate for the Laos kip actually went up to 8670 instead of 8400! Why the sudden jump? Now in the morning it is back to 8400 again


#3

Purely guessing. Perhaps the spread is caused by lack of liquidity of Laos kip, or when currency markets are closed there’s additional risk of price jumps on market open thus causing a wider spread.


#4

Happened today again. The exchange gets better after I think 22:00 laos time or 3pm British time. It could be one hour earlier, as I am not checking every hour. It is strange though as these time don’t seem to match trading times


#5

Some more research shows that around that time the forex exchanges in new York and Chicago open. I guess that could be the reason


#7

I’m experiencing the same problem now, one year later. Revolut rate is much lower than the interbank rate (200kip lower every euro). I will wait until 22pm to see if the rate improves as you told!!

Revolut 1€ 9544KIP
Interbank rate is 9750KIP