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.
29/12/2014: 1 US Dollar = 3.891 Israeli Sheqel
The Israeli Sheqel (ILS) reaches a historical low against the US Dollar in the foreign exchange market.
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.
04/05/2008: Introduction of New Banknotes
New Israeli Sheqel (ILS) banknotes with enhanced security features were issued.
01/09/1999: Introduction of Sheqel Coins
Israeli Sheqel (ILS) coins were introduced, replacing the agora as the subunit of 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.
24/02/1985: Hyperinflation Crisis
Israel experiences hyperinflation, leading to the introduction of the new Israeli Sheqel (ILS).
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.
16/03/1960: Introduction of the New Sheqel
The old Israeli pound (ILP) was replaced by the new Israeli Sheqel (ILS) as the official currency.
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.
24/02/1949: Introduction of the Israel Pound
The Israeli pound (ILP) was introduced as legal tender in Israel.
24/09/1948: Israeli Declaration of Independence
The Israeli pound (ILP) was introduced as the official currency of Israel.
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.