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

Malaysian ringgit lao kip history for October 2023. The highest quote for this month is 4356.32 (17/10/2023) and the lowest 4341.04 (07/10/2023). The difference between high and low is 0.35.

MYR LAK average rate for October 2023 is 4321.57607, the change between 01/10/2023 and 31/10/2023 is -0.65 %.

01 October 2023	1 MYR = 4320.87 LAK
02 October 2023	1 MYR = 4303.72 LAK
03 October 2023	1 MYR = 4307.99 LAK
04 October 2023	1 MYR = 4309.61 LAK
05 October 2023	1 MYR = 4320.15 LAK
06 October 2023	1 MYR = 4275.82 LAK
07 October 2023	1 MYR = 4342.89 LAK
09 October 2023	1 MYR = 4281.42 LAK
10 October 2023	1 MYR = 4283.59 LAK
11 October 2023	1 MYR = 4328.96 LAK
12 October 2023	1 MYR = 4341.60 LAK
13 October 2023	1 MYR = 4348.20 LAK
16 October 2023	1 MYR = 4323.88 LAK
17 October 2023	1 MYR = 4357.24 LAK
18 October 2023	1 MYR = 4355.72 LAK
19 October 2023	1 MYR = 4306.00 LAK
20 October 2023	1 MYR = 4338.06 LAK
21 October 2023	1 MYR = 4337.88 LAK
22 October 2023	1 MYR = 4337.88 LAK
23 October 2023	1 MYR = 4287.91 LAK
24 October 2023	1 MYR = 4341.55 LAK
25 October 2023	1 MYR = 4313.32 LAK
26 October 2023	1 MYR = 4322.80 LAK
27 October 2023	1 MYR = 4316.65 LAK
28 October 2023	1 MYR = 4335.43 LAK
29 October 2023	1 MYR = 4335.43 LAK
30 October 2023	1 MYR = 4280.82 LAK
31 October 2023	1 MYR = 4348.74 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