Historic Eritrean nakfa Lao kip

Eritrean nakfa lao kip history for December 2023. The highest quote for this month is 1376.08 (10/12/2023) and the lowest 1376.08 (10/12/2023). The difference between high and low is 0.

ERN LAK average rate for December 2023 is 1365.59667, the change between 01/12/2023 and 31/12/2023 is -0.09 %.

01 December 20231 ERN = 1359.04 LAK
02 December 20231 ERN = 1374.42 LAK
03 December 20231 ERN = 1374.42 LAK
04 December 20231 ERN = 1361.41 LAK
05 December 20231 ERN = 1371.93 LAK
06 December 20231 ERN = 1373.42 LAK
07 December 20231 ERN = 1361.66 LAK
08 December 20231 ERN = 1374.09 LAK
10 December 20231 ERN = 1376.08 LAK
11 December 20231 ERN = 1362.06 LAK
12 December 20231 ERN = 1373.59 LAK
13 December 20231 ERN = 1360.56 LAK
14 December 20231 ERN = 1373.75 LAK
15 December 20231 ERN = 1368.28 LAK
16 December 20231 ERN = 1364.17 LAK
17 December 20231 ERN = 1364.17 LAK
18 December 20231 ERN = 1358.87 LAK
19 December 20231 ERN = 1352.34 LAK
20 December 20231 ERN = 1360.47 LAK
21 December 20231 ERN = 1365.45 LAK
22 December 20231 ERN = 1367.44 LAK
23 December 20231 ERN = 1365.45 LAK
24 December 20231 ERN = 1363.64 LAK
26 December 20231 ERN = 1353.62 LAK
27 December 20231 ERN = 1361.98 LAK
28 December 20231 ERN = 1368.48 LAK
29 December 20231 ERN = 1360.32 LAK

01/01/2021: Digitalization of the kip

The Bank of the Lao PDR introduced digital payment systems and promoted cashless transactions to modernize the use of the kip in the digital era.

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

14/10/2013: Kip exchange rate liberalized

Laos liberalized its exchange rate regime, allowing the kip's value to be determined by market forces, leading to fluctuations in its value.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

02/07/1997: Lao kip devalued

Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.

02/05/1980: Revaluation of the kip

The Lao government initiated a revaluation of the kip, resulting in the exchange rate of 1 new kip to 100 old kip.

02/12/1976: Kip becomes the sole legal tender

The Lao kip was declared as the sole legal tender in Laos, replacing the use of other currencies within the country.

01/01/1952: Currency reform

Laos implemented a currency reform that replaced the French Indochinese piastre with the new kip, at an exchange rate of 100 new kip to 1 old piastre.

12/10/1945: Lao kip introduced

The Lao kip was first introduced as the official currency of Laos following the country's liberation from French colonial rule.
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