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.
01/01/2021: Introduction of New Banknotes
New banknotes with enhanced security features were introduced, replacing the previous designs.
20/12/2016: Abolishment of Currency Controls
Belarus abolished most of the currency controls, allowing for greater flexibility in foreign currency transactions.
01/01/2015: Introduction of Currency Controls
To stabilize the economy, Belarus implemented currency controls, restricting foreign currency transactions.
22/12/2014: Devaluation of the Belarusian Ruble
The Belarusian Ruble experienced a significant devaluation, causing a sharp drop in its value against major currencies.
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.
01/07/2011: Creation of the Single Currency Market
The Single Currency Market was established, allowing for unified exchange rates between the Belarusian Ruble and foreign currencies.
01/01/2000: Redenomination of the Belarusian Ruble
The Belarusian Ruble underwent a redenomination, with four zeros being removed from the currency.
02/07/1997: Lao kip devalued
Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.
26/05/1992: Introduction of the Belarusian Ruble
The Belarusian Ruble was introduced as the official currency of Belarus, replacing the Soviet ruble.
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.