Historic Lao kip Albanian lek

Lao kip albanian lek history for February 2024. The highest quote for this month is 0.004646 (07/02/2024) and the lowest 0.004591 (06/02/2024). The difference between high and low is 1.18.

LAK ALL average rate for February 2024 is 0.00459, the change between 01/02/2024 and 29/02/2024 is +1.75 %.

01 February 20241 LAK = 0.0046 ALL
02 February 20241 LAK = 0.0046 ALL
05 February 20241 LAK = 0.0045 ALL
06 February 20241 LAK = 0.0046 ALL
07 February 20241 LAK = 0.0046 ALL
08 February 20241 LAK = 0.0046 ALL
09 February 20241 LAK = 0.0046 ALL
12 February 20241 LAK = 0.0046 ALL
13 February 20241 LAK = 0.0046 ALL
14 February 20241 LAK = 0.0046 ALL
15 February 20241 LAK = 0.0046 ALL
16 February 20241 LAK = 0.0046 ALL
19 February 20241 LAK = 0.0046 ALL
20 February 20241 LAK = 0.0046 ALL
21 February 20241 LAK = 0.0046 ALL
22 February 20241 LAK = 0.0046 ALL
23 February 20241 LAK = 0.0046 ALL
26 February 20241 LAK = 0.0045 ALL
27 February 20241 LAK = 0.0046 ALL
28 February 20241 LAK = 0.0046 ALL
29 February 20241 LAK = 0.0045 ALL

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.

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.

31/12/2011: Replacement of 1 Lek coin

The 1 lek coin was demonetized and replaced by a banknote. The decision was made due to the high cost of producing the coin.

08/02/2000: Introduction of new banknotes and coins

A new series of banknotes and coins were introduced, featuring enhanced security features and updated designs.

02/07/1997: Lao kip devalued

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

02/03/1997: Collapse of pyramid schemes

The collapse of pyramid schemes in Albania caused a severe economic crisis, resulting in hyperinflation and a significant devaluation of the lek.

26/06/1992: Transition to a market economy

Albania transitioned to a market economy, leading to a significant depreciation of the lek. The exchange rate changed to 1 lek = 9.3 old lek.

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.

01/10/1965: Introduction of the new lek

A new series of banknotes and coins were introduced, marking the transition to the new lek. The exchange rate was set at 1 new lek = 10 old lek.

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.

22/12/1947: Albania becomes a communist state

Following the establishment of a communist regime in Albania, the currency underwent a major devaluation, with the exchange rate changing to 1 lek = 12.5 old lek.

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.

01/09/1926: Introduction of the Albanian lek

The lek was introduced as the official currency of Albania, replacing the previous currency, the Turkish lira. The exchange rate was set at 1 lek = 35 Turkish lira.