Lao Kip (LAK) Profile
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.