Historic Eritrean nakfa Lao kip

Eritrean nakfa lao kip history for February 2024. The highest quote for this month is 1382.35 (24/02/2024) and the lowest 1382.35 (24/02/2024). The difference between high and low is 0.

ERN LAK average rate for February 2024 is 1377.43407, the change between 01/02/2024 and 29/02/2024 is +0.25 %.

01 February 20241 ERN = 1371.93 LAK
02 February 20241 ERN = 1376.74 LAK
03 February 20241 ERN = 1377.67 LAK
04 February 20241 ERN = 1377.67 LAK
05 February 20241 ERN = 1375.21 LAK
06 February 20241 ERN = 1368.64 LAK
07 February 20241 ERN = 1378.57 LAK
08 February 20241 ERN = 1381.40 LAK
09 February 20241 ERN = 1378.90 LAK
12 February 20241 ERN = 1367.30 LAK
13 February 20241 ERN = 1379.56 LAK
14 February 20241 ERN = 1380.23 LAK
15 February 20241 ERN = 1382.72 LAK
16 February 20241 ERN = 1381.55 LAK
17 February 20241 ERN = 1381.69 LAK
18 February 20241 ERN = 1381.69 LAK
19 February 20241 ERN = 1368.52 LAK
20 February 20241 ERN = 1370.02 LAK
21 February 20241 ERN = 1380.23 LAK
22 February 20241 ERN = 1382.72 LAK
23 February 20241 ERN = 1381.22 LAK
24 February 20241 ERN = 1382.35 LAK
25 February 20241 ERN = 1382.35 LAK
26 February 20241 ERN = 1369.86 LAK
27 February 20241 ERN = 1380.76 LAK
28 February 20241 ERN = 1382.72 LAK
29 February 20241 ERN = 1368.50 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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