Historic Australian dollar Lao kip

Australian dollar lao kip history for November 2023. The highest quote for this month is 13647 (29/11/2023) and the lowest 13633.9 (26/11/2023). The difference between high and low is 0.1.

AUD LAK average rate for November 2023 is 13385.56538, the change between 01/11/2023 and 30/11/2023 is -4.17 %.

01 November 20231 AUD = 13123.70 LAK
02 November 20231 AUD = 13296.10 LAK
03 November 20231 AUD = 13159.00 LAK
06 November 20231 AUD = 13245.60 LAK
07 November 20231 AUD = 13416.90 LAK
08 November 20231 AUD = 13291.00 LAK
09 November 20231 AUD = 13259.80 LAK
10 November 20231 AUD = 13175.10 LAK
12 November 20231 AUD = 13186.20 LAK
13 November 20231 AUD = 13013.70 LAK
14 November 20231 AUD = 13208.70 LAK
15 November 20231 AUD = 13457.90 LAK
16 November 20231 AUD = 13465.80 LAK
17 November 20231 AUD = 13381.60 LAK
18 November 20231 AUD = 13476.40 LAK
19 November 20231 AUD = 13488.70 LAK
20 November 20231 AUD = 13292.00 LAK
21 November 20231 AUD = 13571.10 LAK
22 November 20231 AUD = 13551.10 LAK
23 November 20231 AUD = 13379.90 LAK
24 November 20231 AUD = 13455.00 LAK
26 November 20231 AUD = 13622.40 LAK
27 November 20231 AUD = 13426.40 LAK
28 November 20231 AUD = 13654.80 LAK
29 November 20231 AUD = 13754.20 LAK
30 November 20231 AUD = 13671.60 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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