About the Lao Kip
The Kip was introduced to replace the French Indochinese piastre. It has been revalued several times due to inflation.
The name 'Kip' is a Lao word referring to an ingot.
Interesting Facts
A No-Coin Currency
Due to high inflation, coins are no longer in circulation in Laos. The smallest denomination in common use is a 500 kip banknote.
A Landlocked Economy
As a landlocked country, Laos' economy is heavily reliant on its neighbors, particularly Thailand, Vietnam, and China, for trade and investment.
Pha That Luang
The national symbol, the golden stupa of Pha That Luang in Vientiane, is featured on the banknotes.
Historical Timeline
The first Kip is introduced.
The Pathet Lao government introduces the 'Pathet Lao' kip.
A currency reform introduces the current Kip at a rate of 100 to 1.
Denominations
Banknotes
Security Features
Quick Facts
- ISO Code
- LAK
- Symbol
- ₭
- Numeric Code
- 418
- Subunit
- Att (1/100)
- Introduced
- 1952-01-01
Central Bank
- Name
- Bank of the Lao P.D.R.
- Headquarters
- Vientiane, Laos
- Founded
- 1968
- Current Governor
- Bounleua Sinxayvoravong (since 2022)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 25.8%
- Interest Rate
- 8.00%
Exchange Rates
What Affects the LAK Exchange Rate?
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