Lao Kip (LAK) Profile
Currency name:
Currency code:
Currency symbol:
₭ or ₭N
Subunit:
1/100, att
Coins freq used:
Coins rarely used:
10 att, 20 att, 50 att (issued but not in circulation)
Banknotes freq used:
500 kip, 1000 kip, 2000 kip, 5000 kip, 20000 kip, 20000 kip, 50000 kip, 100000 kip
Banknotes rarely used:
1 kip, 5 kip, 10 kip, 20 kip, 50 kip, 100 kip
Central bank:
Bank of the Lao P.D.R. (www.bol.gov.la)
Currency users:
Currency notes:
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Currency user map:
Users:
The Lao Kip (LAK) is the official currency of Laos. It is the legal tender used for all transactions within the country.
History:
The Lao Kip was introduced in 1952, replacing the French Indochinese Piastre at a rate of 1 Kip = 100 Piastres, after Laos gained independence from France in 1953.
Throughout its history, the Lao Kip has experienced various denominational changes and redenominations to manage inflation and simplify transactions.
Coins and Banknotes:
The Lao Kip is subdivided into 100 att, although att coins are rarely used due to their low value.
Coins:
Coins currently in circulation are 10, 20, and 50 att, as well as 1, 2, and 5 Kips.
Banknotes:
The most commonly used banknotes are 500, 1000, 2000, 5000, 10,000, 20,000, and 50,000 Kips.
Each banknote typically features important cultural and historical symbols of Laos.