Historic Australian dollar Lao kip

Australian dollar lao kip history for February 2024. The highest quote for this month is 13672 (24/02/2024) and the lowest 13686.4 (25/02/2024). The difference between high and low is -0.11.

AUD LAK average rate for February 2024 is 13546.8963, the change between 01/02/2024 and 29/02/2024 is +1.4 %.

01 February 20241 AUD = 13565.90 LAK
02 February 20241 AUD = 13623.20 LAK
03 February 20241 AUD = 13509.30 LAK
04 February 20241 AUD = 13512.80 LAK
05 February 20241 AUD = 13481.40 LAK
06 February 20241 AUD = 13348.20 LAK
07 February 20241 AUD = 13565.40 LAK
08 February 20241 AUD = 13559.00 LAK
09 February 20241 AUD = 13502.00 LAK
12 February 20241 AUD = 13428.20 LAK
13 February 20241 AUD = 13573.60 LAK
14 February 20241 AUD = 13423.10 LAK
15 February 20241 AUD = 13524.00 LAK
16 February 20241 AUD = 13586.10 LAK
17 February 20241 AUD = 13605.60 LAK
18 February 20241 AUD = 13606.50 LAK
19 February 20241 AUD = 13483.50 LAK
20 February 20241 AUD = 13465.70 LAK
21 February 20241 AUD = 13631.30 LAK
22 February 20241 AUD = 13637.20 LAK
23 February 20241 AUD = 13652.80 LAK
24 February 20241 AUD = 13672.00 LAK
25 February 20241 AUD = 13672.00 LAK
26 February 20241 AUD = 13535.50 LAK
27 February 20241 AUD = 13607.60 LAK
28 February 20241 AUD = 13617.90 LAK
29 February 20241 AUD = 13376.40 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.
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