VIENTIANE, May 10 (Xinhua) -- Laos' central bank, the Bank of the Lao PDR (BOL), has announced it will soon start selling savings bonds worth up to 2 trillion Lao kip (some 114 million U.S. dollars).

The announcement, made by the central bank on Monday, was aimed at informing the public, vendors and civil servants about the sale of the BOL bonds through various banks of Laos.

The BOL bonds will have a six-month maturity, with an interest rate of 15 percent per year, Lao Economic Daily reported on Wednesday.

The sale of the bonds by BOL is also aimed at enabling the public to invest in securities and earn a secure and sizeable profit, while supporting the government's monetary policy and efforts to stabilize the value of the kip.

Laos' inflation rate dropped slightly to 39.89 percent in April from 40.97 percent in March, but food prices remained elevated in the country. The continuing depreciation of the Lao kip is among the key factors driving inflation in Laos.

The currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.

In February, BOL announced the sale of bonds worth 1 trillion kip through seven commercial banks. In addition, the central bank's savings bonds worth 5 trillion kip were offered to individuals and legal entities residing in Laos in 2022. Enditem

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