Lao kip

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. By ISO 4217 it is abbreviated as LAK. One kip is divided into 100 att.

Royal kip

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

Coins issued were a 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 cash 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.

Phat Lao kip

The Phat Lao kip was issued sometime in the 1970's in denominations of 1, 10, 20, 50, 100, 200 and 500 kip. In 1976, the Phat Lao kip replaced the royal kip at 1 Phat Lao kip = 20 royal kip. The Bank of the Loa P.D.R states they were printed in China.

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.

On the 17 January 2006, a 50,000 kip note was issued. It is similar to the 10 and 20 thousand kip notes.

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Royal kip

Phat Lao kip

Lao PDR kip

See also