Country ISO code: LA

Official language: Lao

Language ISO code: lo

Current official currency: Lao Kip

Current currency ISO code: LAK

Currency: Lao Kip (LAK)

• ISO code: LAK

• Symbols and signs: ₭

• Singular name: Kip

• Plural name: Kips

• Monetary subdivision: 1 Kip = 100 (not commonly used)

• Fraction singular name: Not applicable

• Fraction plural name: Not applicable

• Initial production date: 1952

• Final production date: Still in production

• Initial circulation date: 1952

• Final circulation date: Currently in circulation

• Mint: Specific mint information not available; coins generally produced by international mints

• Issuing bank: Bank of the Lao P.D.R. (National Bank of Laos)

• Coin denominations minted: 10, 20, 50, 100, 200, 500, 1000 Kip

• Banknote denominations printed: 1000, 2000, 5000, 10000, 20000, 50000 Kip

Historical and economic context

• Prior to 1952, Laos used the French Indochinese Piastre and the French Indochinese Kip.

• In 1952, the Lao Kip was introduced, replacing colonial currencies at approximately par.

• In 1979, new banknotes were issued reflecting political and economic changes in the country.

• Banknotes feature images of historical figures, cultural heritage, and national symbols such as temples and natural landscapes.

• The National Bank of Laos is responsible for currency issuance and control, implementing anti-counterfeiting measures.

• The Kip has experienced inflation and exchange rate fluctuations, reflecting regional economic challenges.

• Commemorative coins are occasionally issued for national and cultural events.

Current status

• The Lao Kip is the sole official currency in circulation in Laos.

• Foreign currencies have no legal tender status but may be informally accepted in some tourist areas.

• The National Bank of Laos maintains strict control over currency issuance and circulation.

This report provides a comprehensive financial history of the ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ (Lao People's Democratic Republic), highlighting the Lao Kip as the current official currency, its features, historical context, and issuance and circulation details.