Lao kip


Lao kip

Infobox Currency
currency_name_in_local = ກີບ lo icon
iso_code = LAK
image_1 = 1000 Kip(1996).jpg
image_title_1 = 1000 kip issued in 1996
using_countries = LAO
inflation_rate = 6.8%
inflation_source_date = " [https://www.cia.gov/library/publications/the-world-factbook/fields/2092.html The World Factbook] ", 2006 est.
subunit_ratio_1 = 1/100
subunit_name_1 = att
symbol = ₭ or ₭N
rarely_used_coins = 10, 20, 50 att
frequently_used_banknotes = 1000, 2000, 5000, 10 000, 20 000, 50 000kip
rarely_used_banknotes = 1, 5, 10, 20, 50, 100, 500 kip
issuing_authority = Bank of the Lao P.D.R.
issuing_authority_website = www.bol.gov.la

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

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. fact|date=June 2007

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).

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.

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.

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 1, 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.

Lao PDR kip

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

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.

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).

ee also

*Economy of Laos
*Least valued currency unit

External links

Standard numismatics external links
world_coin_gallery_1_url = Laos
world_coin_gallery_1_name = Laos
banknote_world_1_url = laos
banknote_world_1_name = Laos
dollarization_1_url = asia
dollarization_1_name = Asia
gfd_1_url = Laos
gfd_1_name = Laos
gfd_data_1_url = 5581
gfd_data_1_name = Laos Kip
show_gfd_excel = Y

* [http://geocities.com/laobanknote/republic.htm Lao banknote collection]


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Look at other dictionaries:

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  • kip — I [[t]kɪp[/t]] n. 1) the hide of a young or small beast 2) a bundle or set of such hides • Etymology: 1325–75; ME kipp < MD, MLG kip pack (of hides); akin to ON kippa bundle II kip [[t]kɪp[/t]] n. wam a unit of weight equal to 1000 pounds (453 …   From formal English to slang

  • kip — I. noun Etymology: obsolete Dutch; akin to Middle Low German kip bundle of hides Date: circa 1525 a bundle of undressed hides of young or small animals; also one of the hides II. noun Etymology: perhaps from Danish kippe cheap tavern Date: 1879 1 …   New Collegiate Dictionary

  • kip — kip1 /kip/, n. 1. the hide of a young or small beast. 2. a bundle or set of such hides. [1325 75; ME kipp < MD, MLG kip pack (of hides); akin to ON kippa bundle] kip2 /kip/, n. a unit of weight equal to 1000 pounds (453.6 kilograms). [1910 15,… …   Universalium

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