Australian dollar lao kip exchange rate history (AUD LAK) December 2023

Australian dollar lao kip history for December 2023. The highest quote for this month is 13995.4 (28/12/2023) and the lowest 14448.4 (25/12/2023). The difference between high and low is -3.24.

AUD LAK average rate for December 2023 is 13760.41071, the change between 01/12/2023 and 31/12/2023 is -3.56 %.

01 December 2023	1 AUD = 13513.30 LAK
02 December 2023	1 AUD = 13811.20 LAK
03 December 2023	1 AUD = 13793.70 LAK
04 December 2023	1 AUD = 13692.70 LAK
05 December 2023	1 AUD = 13680.90 LAK
06 December 2023	1 AUD = 13548.60 LAK
07 December 2023	1 AUD = 13443.60 LAK
08 December 2023	1 AUD = 13637.40 LAK
10 December 2023	1 AUD = 13620.50 LAK
11 December 2023	1 AUD = 13505.90 LAK
12 December 2023	1 AUD = 13589.60 LAK
13 December 2023	1 AUD = 13459.90 LAK
14 December 2023	1 AUD = 13779.90 LAK
15 December 2023	1 AUD = 13820.90 LAK
16 December 2023	1 AUD = 13772.40 LAK
17 December 2023	1 AUD = 13772.40 LAK
18 December 2023	1 AUD = 13699.90 LAK
19 December 2023	1 AUD = 13662.00 LAK
20 December 2023	1 AUD = 13847.20 LAK
21 December 2023	1 AUD = 13850.30 LAK
22 December 2023	1 AUD = 13987.80 LAK
23 December 2023	1 AUD = 13978.60 LAK
24 December 2023	1 AUD = 13978.60 LAK
25 December 2023	1 AUD = 13861.50 LAK
26 December 2023	1 AUD = 13865.20 LAK
27 December 2023	1 AUD = 14005.90 LAK
28 December 2023	1 AUD = 14117.70 LAK
29 December 2023	1 AUD = 13993.90 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 Australian dollar experienced a sharp decline due to the global economic impact of the COVID-19 pandemic and uncertainty in financial markets.

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.

13/10/2011: Record high exchange rate

The Australian dollar reached a record high exchange rate of above $1.10 against the US dollar, driven by strong commodity demand and high interest rates.

06/10/2008: Global Financial Crisis

The Australian dollar experienced a significant decline due to the impact of the global financial crisis, reaching a low point of around $0.60 against the US dollar.

02/07/1997: Lao kip devalued

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

30/06/1996: Introduction of the polymer banknotes

Australia introduced polymer banknotes, replacing the paper-based banknotes, enhancing their durability and security features.

08/03/1983: Floating of the Australian dollar

The Australian dollar was fully floated and allowed to fluctuate freely on the foreign exchange market, leading to increased volatility.

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.

12/12/1971: End of the fixed exchange rate

Australia shifted from a fixed exchange rate to a flexible exchange rate, allowing market forces to determine the value of the Australian dollar.

13/02/1966: Decimalisation of the Australian currency

Australia adopted decimal currency, replacing the pound with the Australian dollar, symbol 'A$'.

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 Australian dollar Lao kip