Lao Kip: A Guide to the Currency of Laos

The Lao Kip is the official currency of Laos, and it's essential to understand its value and usage when traveling to the country.

The Lao Kip is subdivided into 10,000 smaller units called att, but it's not commonly used in everyday transactions.

You can exchange your money for Lao Kip at banks, currency exchange offices, or some hotels, but be aware that the exchange rates may vary.

It's a good idea to have some local currency with you when you arrive in Laos, especially if you plan to visit rural areas where credit cards may not be accepted.

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The Lao kip has a rich history dating back to the 1950s. It was first introduced as the official currency of Laos after its independence from France in 1953. Before that, the Indochinese piastre was used as the official currency.

The first version of the Lao kip was the Free Lao kip, which was issued by the Free Lao government in 1945. It was later adopted as the national currency in 1952. The Royal kip was also introduced in the 1950s, replacing the French Indochinese piastre at par.

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The Royal kip was pegged to the French franc at a rate of 10 francs per kip, but it was later devalued and switched to the US dollar in 1958. The official exchange rate was set at ₭35 per US dollar, but the parallel rate was much higher, reaching ₭600 per dollar by 1963.

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French Indochina was a region in Southeast Asia that was under French colonial rule from 1862 to 1954. The piastre was the currency used in French Indochina between 1885 and 1952. The region consisted of present-day Vietnam, Laos, and Cambodia.

The Lao kip has a fascinating history that spans thousands of years, but its modern form as the official currency of Laos only dates back to the 1950s.

Before Laos gained independence in 1953, it was a French protectorate and used the Indochinese piastre as its official currency.

The Free Lao government started issuing the Free Lao kip in 1945, which was formally adopted as the national currency in 1952.

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In 1945-1946, the Free Lao government in Vientiane issued a series of paper money in denominations of 10, 20, and 50 att and 10 kip before the French authorities took control of the region.

The Royal kip was reintroduced in 1955, replacing the French Indochinese piastre at par, and was pegged to the French franc at a rate of 10 francs per kip.

On 10 October 1958, the kip's peg switched to the US dollar, and was officially devalued from ₭35 to ₭80 per US dollar.

The Pathet Lao kip was printed in China in the 1960s, and the Lao PDR kip was introduced in 1979, replacing the Pathet Lao "liberation kip" at a rate of 100 to 1.

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The Pathet Lao Kip was introduced on 12 October 1968. It was initially used in areas controlled by the Pathet Lao.

Banknotes for the liberation kip were printed in China and came in denominations of ₭1, ₭10, ₭20, ₭50, ₭100, ₭200, and ₭500.

One liberation kip was worth 6 royal kip on 20 August 1975, based on the Pathet Lao's media outlet Siang Pasason.

The exchange rate was 120.83 liberation kip per US dollar in 1975, according to historic exchange rates provided by the International Monetary Fund.

The new communist Laotian government replaced the royal kip with the liberation kip in 1976, setting an exchange rate of 20 royal kip per liberation kip.

A currency confiscation was carried out, where individuals could exchange up to 100,000 royal kip for liberation kip, and businesses up to one million royal kip, with the rest to be deposited in state-owned banks.

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The Lao kip has a fascinating history, and understanding its evolution is key to navigating the country's economy. The Lao kip replaced the Indochinese piastre in 1945, four years before Laos officially gained independence from France.

This version was called the Free Lao kip, which became the official currency in 1952. The Free Lao kip was formally adopted as the national currency in 1952.

The Bank of the Lao P.D.R., the country's central bank, is responsible for maintaining the value and supply of the kip. It's also responsible for the country's economic and monetary policy.

Banknotes circulate in various denominations, ranging from ₭1 to ₭100,000. You can spot the Lao kip by the letters LAK and the symbols ₭ or ₭N in any currency conversion tool.

One kip is divided into 100 att, but coins and smaller bills are no longer used due to high inflation.

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The Lao kip (LAK) is the official national currency of Laos, symbolized by ₭.

It's divided into 100 att, but coins are no longer used due to high inflation.

Banknotes range in value from ₭1 to ₭100,000 and are decorated with iconic Lao figures and landmarks.

The Lao kip replaced the Indochinese piastre in 1945, four years before Laos gained independence from France.

Banknotes circulate in various increments, all the way up to 100,000 kip, and are printed in France and China.

Here's a breakdown of the denominations:

Coins have been an essential part of the Lao Kip currency system, with various designs and denominations issued over the years.

The Royal Kip coins, issued in 1952, were unique in that they had a hole in the center, like Chinese cash coins, and were struck in aluminum.

Coins were reintroduced in Laos in 1980 after a 28-year hiatus, with denominations of 10, 20, and 50 att, each featuring the state emblem on the obverse and agricultural themes on the reverse.

These coins were made of aluminum and were designed to depict the country's agricultural themes.

The 10, 20, and 50 att coins issued in 1980 had the following characteristics:

Commemorative coins were also issued in 1985 to mark the 10th anniversary of the establishment of the Lao People's Democratic Republic.

The Lao kip (LAK) is the official currency of Laos, and it's used for daily transactions. You can spot it by the symbols ₭ and ₭N in any currency conversion tool.

The Lao kip has undergone many changes over the decades, with the first version being introduced in 1945, called the "Kip of Free Laos." Later, during the French occupation, Laos used the Indochinese piastre.

The smallest unit of the Lao kip is the 1,000 kip, and it's the smallest denomination in circulation. There are no coins in circulation, as the country only uses banknotes for all transactions.

Banknotes range in value from 1,000 to 100,000 kips, featuring iconic Lao figures and landmarks, including President Kaysone Phomvihane and the Theun-Hinboun Hydroelectric Powerhouse. The 1,000 kip note features an image of three women representing the historical ethnic groups of Laos.

The exchange rate in Laos fluctuates based on the currency market and economic policies. To get the most accurate and up-to-date exchange rate, it's advisable to check the conversion table for LAK to Euro, USD, and Pound.

Here's a rough idea of the exchange rate for LAK to other currencies:

The Lao kip floats freely against other currencies and is not pegged to any other currency. This means that the exchange rate can fluctuate, so it's essential to check the current rate before your trip.

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You can exchange Lao Kip at banks in your home country, but it's recommended to compare exchange rates from different banks to choose the one offering the best rates.

In Laos, you have three options for exchanging Lao currency: local banks, ATMs, and currency exchange booths. Local banks offer competitive exchange rates and reasonable service fees, while ATMs are common throughout the country and allow you to withdraw money in Lao Kips.

Currency exchange booths are available in markets, shops, and restaurants, but their exchange fees are generally higher than those of banks or ATMs.

The Lao Kip is the official national currency of Laos, and it's maintained by the country's central bank, the Bank of the Lao P.D.R. The kip became the official currency in 1952 after Laos declared independence from France.

One kip was divided into 100 att, but coins are now worthless due to high inflation.

You can exchange money at a bank before departing for Laos or at local hotels, hostels, and banks upon arrival. The largest kip banknote is worth 100,000 kip, or almost 7 U.S. dollars.

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The value of the kip had dropped by around 30% as of early 2022, but the economy is expected to grow by 3.8% by the end of the year.

Here's a summary of the exchange options in Laos:

Note: The table above is a summary of the exchange options in Laos, but it's not exhaustive. It's always a good idea to research and compare exchange rates and fees before making a decision.

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Laos is a country located in Southeast Asia, bordered by China, Vietnam, Cambodia, Thailand, and Myanmar.

The official language of Laos is Lao, but French, English, and Vietnamese are also widely spoken.

Laos has a cash-based economy, but in rural areas, people often use a barter system instead.

The country's major trading partners are China, Thailand, Vietnam, India, and Japan.

Laos' GDP was $18.83 billion in 2021, with a growth rate of 2.5% that year.

The inflation rate in Laos was 3.8% in 2021.

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The country's economy has been heavily reliant on tourism, with the industry accounting for over 10% of the GDP in 2019.

Here's a breakdown of Laos' major exports:

Laos has an abundance of natural resources, including minerals, oil, and gas, as well as water, which allows it to export hydroelectric power.

You can exchange Laos currency in your home country at a bank, but it's a good idea to compare exchange rates from different banks to choose the best one.

In Laos, you have several options for exchanging currency, including local banks, ATMs, and currency exchange booths.

Local banks are a good option, with many available at the international airport or in major cities like Vientiane and Luang Prabang, and they offer competitive exchange rates with reasonable service fees.

ATMs are also widely available, but be aware that withdrawal fees can range from 1 to 5 USD, and you can withdraw up to approximately 250 USD per transaction.

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You can also withdraw money in Laotian Kips, but be sure to check the international withdrawal fees applied by your bank card to avoid surprises.

Currency exchange booths are available in markets, shops, and restaurants, but their exchange fees are generally higher than those of banks or ATMs, so use them only in an emergency.

It's a good idea to use smaller denominations when making purchases, as small businesses often lack change for large bills.

The US dollar is widely accepted in Laos, but be aware that there are limits to how much you can bring into the country, and you'll need to declare any amount above $2,000 USD.

In major cities, you can easily find ATMs and use credit cards at establishments that cater to tourists, but in rural areas, you'll need to carry cash.

Tipping is not obligatory in Laos, but if you do leave a tip, be sure to count the zeros, as the largest kip banknote is worth 100,000 kip, or almost 7 U.S. dollars.

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