Lao kip

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Lao kip ກີບ (Lao)
1000 kip issued in 1996
ISO 4217 Code	LAK
User(s)	Laos
Inflation	6.8%
Source	The World Factbook, 2006 est.
Subunit
1/100	att
Symbol	₭ or ₭N
Coins
Rarely used	10, 20, 50 att
Banknotes
Freq. used	1000, 2000, 5000, 10 000, 20 000, 50 000kip
Rarely used	1, 5, 10, 20, 50, 100, 500 kip
Central bank	Bank of the Lao P.D.R.
Website	www.bol.gov.la

The kip (Lao: ກີບ) is the currency of Laos since 1952. Its ISO 4217 code is LAK and it is usually written ₭ or ₭N. One kip is divided into 100 att (ອັດ).

Contents 1 Free Lao Kip 2 Royal kip 2.1 Coins 2.2 Banknotes 3 Pathet Lao kip 4 Lao PDR kip 4.1 Coins 4.2 Banknotes 5 See also 6 External links

[edit] Free Lao Kip

In 1945-1946, the Free Kip 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.^{[citation needed]}

[edit] Royal kip

The kip was reintroduced in 1952, replacing the French Indochinese piastre at par. The kip (also called a piastre in French) was sub-divided into 100 att (Lao) or cents (French).

[edit] Coins

Coins were issued in denominations of 10, 20 and 50 att or cents with French and Lao inscriptions. All were struck in aluminium and had a hole in the centre, like the Chinese cash coins. The only year of issue was 1952.

[edit] Banknotes

In 1953, the Laos branch of the Institut d'Emission des Etats du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and kip. At the same time, the two other branches had similar arrangement with the riel in Cambodia and the đồng in South Vietnam. There were notes for 1, 5, 100 and 100 kip/piastres.

In 1957, the government issued notes denominated solely in kip. The notes were for 1, 5, 10, 20, 50, 100 and 500 kip. In 1963, 200 and 1000 kip notes were added, followed by 5000 kip notes in 1975. All banknotes were printed in France.

[edit] Pathet Lao kip

The Pathet Lao kip was introduced some time before 1976 in the areas which were under the control of the Pathet Lao. Banknote denominations of 10, 20, 50, 100, 200 and 500 kip were issued. The notes were printed in China.

In 1976, the Pathet Lao kip replaced the Royal kip throughout Laos following the Pathet Lao's take over of the country. The exchange rate between the two kip was 1 Pathet Lao kip = 20 royal kip.

[edit] Lao PDR kip

In 1979, a currency reform took place, replacing 100 old (Pathet Lao) kip by one new kip.

[edit] Coins

Coins were issued dated 1980 in denominations of 10, 20 and 50 att. However, due to chronic inflation there are no coins currently in circulation in Laos.

[edit] Banknotes

In 1979, banknotes were introduced in denominations of 1, 5, 10, 20, 50 and 100 kip. 500 kip notes were added in 1988, followed by 1000 kip in 1992, 2000 and 5000 kip in 1997, 10,000 and 20,000 kip in 2002 and 50,000 kip on January 17, 2006 (although dated 2004).

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[edit] See also

• Economy of Laos
• Least valued currency unit

[edit] External links

• Don's World Coin Gallery - Laos
• Ron Wise's World Paper Money - Laos ^{Mirror site}
• Tables of Modern Monetary Systems by Kurt Schuler - Asia ^{Mirror site}
• The Global History of Currencies - Laos
• Global Financial Data data series - Laos Kip
• Global Financial Data currency histories table ( Microsoft Excel format)
• Lao banknote collection

Royal kip

Preceded by: French Indochinese piastre Location: French Indochina Reason: independence Ratio: at par Note: piastre not used in self-declared North Vietnam since 1946

Currency of Laos 1952 – 1976 Note: transitional notes dual denominated in piastre and kip were used until 1957

Succeeded by: Pathet Lao kip Reason: inflation and new communist rule Ratio: 1 Pathet Lao kip = 20 royal kip

Pathet Lao kip

Preceded by: Royal kip Reason: inflation and new communist rule Ratio: 1 Pathet Lao kip = 20 royal kip

Currency of Laos 1976 – 1979

Succeeded by: Lao PDR kip Reason: inflation Ratio: 1 Lao PDR kip = 100 Pathet Lao kip

Lao PDR kip

Preceded by: Pathet Lao kip Reason: inflation Ratio: 1 Lao PDR kip = 100 Pathet Lao kip

Currency of Laos 1979 –

Succeeded by: Current

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