Historic Australian dollar Lao kip

Australian dollar lao kip history for January 2024. The highest quote for this month is 13886.3 (01/01/2024) and the lowest 13901.1 (02/01/2024). The difference between high and low is -0.11.

AUD LAK average rate for January 2024 is 13679.98889, the change between 01/01/2024 and 31/01/2024 is +1.76 %.

01 January 20241 AUD = 13879.70 LAK
02 January 20241 AUD = 13872.00 LAK
03 January 20241 AUD = 13869.70 LAK
04 January 20241 AUD = 13808.80 LAK
05 January 20241 AUD = 13808.90 LAK
06 January 20241 AUD = 13828.30 LAK
07 January 20241 AUD = 13828.30 LAK
08 January 20241 AUD = 13647.00 LAK
09 January 20241 AUD = 13829.80 LAK
10 January 20241 AUD = 13619.40 LAK
11 January 20241 AUD = 13796.80 LAK
12 January 20241 AUD = 13782.20 LAK
14 January 20241 AUD = 13776.20 LAK
15 January 20241 AUD = 13625.90 LAK
16 January 20241 AUD = 13558.80 LAK
17 January 20241 AUD = 13461.90 LAK
18 January 20241 AUD = 13523.30 LAK
19 January 20241 AUD = 13587.00 LAK
22 January 20241 AUD = 13476.90 LAK
23 January 20241 AUD = 13558.40 LAK
24 January 20241 AUD = 13600.70 LAK
25 January 20241 AUD = 13594.00 LAK
26 January 20241 AUD = 13609.70 LAK
28 January 20241 AUD = 13615.80 LAK
29 January 20241 AUD = 13493.90 LAK
30 January 20241 AUD = 13671.50 LAK
31 January 20241 AUD = 13634.80 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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