Lao kip

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**Lao kip**
ISO 4217 Code	`LAK`
User(s)	Laos
Inflation	7%
Source	The World Factbook, 2005 est.
Subunit
1/100	att
Symbol	₭ or ₭N
Coins
Rarely used	10, 20, 50 att
Banknotes	1, 5, 10, 20, 50, 100, 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 kip
Central bank	Bank of the Lao P.D.R.
Website	www.bol.gov.la

This article is about the currency of Laos. For the airport with IATA code LAK, see Aklavik Airport.

The kip is the currency of Laos. Its ISO 4217 code is LAK and it is usually written ₭ or ₭N. One kip is divided into 100 att.

1 Royal kip
2 Phat Lao kip
3 Lao PDR kip
4 See also
5 External links

[edit] Royal kip

The kip was introduced in 1957, replacing the French Indochinese piastre at par. The kip was equivalent to 100 cents.

Coins were issued in the denominations of 10, 20 and 50 cents with French and Lao inscriptions. The only material was aluminium and each denomination had a hole in the centre, like the Chinese wen coins. The only year of issue was in 1952.

The royal government issued kip banknotes in denominations of 1, 5, 10, 50, 100 and 500 in 1955, 20, 200 and 1000 in 1963 and new 10, 1000 and 5000 kip in 1974–1975. All banknotes were printed in France and are similar in design and serial numbering.

[edit] Phat Lao kip

The Phat Lao kip was issued in 1976 in denominations of 1, 10, 20, 50, 100, 200 and 500 kip, replacing the royal kip at 1 Phat Lao kip = 20 royal kip. The Bank of the Lao P.D.R states they were printed in China.

[edit] Lao PDR kip

In 1979, a currency reform was made, replacing 100 old kip by one new kip. Coins were 10, 20 and 50 att, although due to inflation there are no coins currently in circulation in Laos. Kip banknotes come in denominations of 1, 5, 10, 20, 50, 100, 500, 1,000, 2,000, 5,000, 10,000, 20,000 and 50,000. The highest denomination, 50,000, was introduced on January 17, 2006, and is similar to the 10,000 and 20,000 kip notes.

Current LAK exchange rates

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[edit] See also

[edit] External links

Lao banknote collection

Currencies of Asia and the Pacific
Central	Afghan afghani \| Kazakhstani tenge \| Kyrgyzstani som \| Mongolian tugrug \| Russian ruble \| Tajikistani somoni \| Turkmenistani manat \| Uzbekistani som
East	Chinese yuan \| Hong Kong dollar \| Japanese yen \| Macanese pataca \| North Korean won \| South Korean won \| New Taiwan dollar
South-East	Brunei dollar \| Cambodian riel \| Indonesian rupiah \| Lao kip \| Malaysian ringgit \| Myanmar kyat \| Philippine peso \| Singapore dollar \| Thai baht \| US dollar (East Timor) \| Vietnamese đồng
South	Bangladeshi taka \| Bhutanese ngultrum \| Indian rupee \| Maldivian rufiyaa \| Nepalese rupee \| Pakistani rupee \| Sri Lankan rupee
West	Armenian dram \| Azerbaijani manat \| Bahraini dinar \| Cypriot pound \| Egyptian pound \| Georgian lari \| Iranian rial \| Iraqi dinar \| Israeli new sheqel \| Jordanian dinar \| Kuwaiti dinar \| Lebanese lira \| Omani rial \| Qatari riyal \| Saudi riyal \| Syrian pound \| Turkish new lira \| UAE dirham \| Yemeni rial
Pacific	Australian dollar (Kiribati, Nauru, Norfolk Island, Tuvalu) \| CFP franc (French Polynesia, New Caledonia, Wallis and Futuna) \| Cook Islands dollar \| Fijian dollar \| New Zealand dollar (Cook Islands, Niue, Tokelau, Pitcairn Islands) \| Papua New Guinean kina \| Samoan tala \| Solomon Islands dollar \| Tongan pa'anga \| US dollar (American Samoa, Guam, Northern Mariana Islands, Marshall Islands, Federated States of Micronesia, Palau) \| Vanuatu vatu
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