Malaysian ringgit lao kip exchange rate history (MYR LAK) August 2023

Malaysian ringgit lao kip history for August 2023. The highest quote for this month is 4230.07 (01/08/2023) and the lowest 4237.87 (14/08/2023). The difference between high and low is -0.18.

MYR LAK average rate for August 2023 is 4174.39538, the change between 01/08/2023 and 31/08/2023 is +0.34 %.

01 August 2023	1 MYR = 4201.63 LAK
02 August 2023	1 MYR = 4204.00 LAK
03 August 2023	1 MYR = 4209.76 LAK
04 August 2023	1 MYR = 4194.65 LAK
07 August 2023	1 MYR = 4191.38 LAK
08 August 2023	1 MYR = 4210.31 LAK
09 August 2023	1 MYR = 4190.30 LAK
10 August 2023	1 MYR = 4204.74 LAK
11 August 2023	1 MYR = 4204.12 LAK
12 August 2023	1 MYR = 4225.98 LAK
14 August 2023	1 MYR = 4206.10 LAK
15 August 2023	1 MYR = 4136.89 LAK
16 August 2023	1 MYR = 4126.92 LAK
17 August 2023	1 MYR = 4143.07 LAK
18 August 2023	1 MYR = 4133.33 LAK
19 August 2023	1 MYR = 4133.63 LAK
20 August 2023	1 MYR = 4133.63 LAK
21 August 2023	1 MYR = 4139.27 LAK
22 August 2023	1 MYR = 4153.66 LAK
23 August 2023	1 MYR = 4153.03 LAK
24 August 2023	1 MYR = 4153.03 LAK
25 August 2023	1 MYR = 4167.56 LAK
28 August 2023	1 MYR = 4181.85 LAK
29 August 2023	1 MYR = 4171.98 LAK
30 August 2023	1 MYR = 4176.19 LAK
31 August 2023	1 MYR = 4187.27 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.

18/03/2020: COVID-19 Pandemic Impact

The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.

12/08/2015: Ringgit Depreciation

The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.

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.

21/07/2005: Removal of Currency Peg

The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.

02/07/1997: Asian Financial Crisis

The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.

02/07/1997: Lao kip devalued

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

12/06/1985: Currency Pegged to the US Dollar

The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.

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.

29/08/1975: Change to Malaysian Ringgit

The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.

12/06/1967: Introduction of the Malaysian Dollar

The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo dollar.

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.

Historic Malaysian ringgit Lao kip