Historic Convertible Mark Lao kip

Convertible Mark lao kip history for January 2024. The highest quote for this month is 11486.5 (25/01/2024) and the lowest 11888.8 (03/01/2024). The difference between high and low is -3.5.

BAM LAK average rate for January 2024 is 11430.80952, the change between 01/01/2024 and 31/01/2024 is +0.18 %.

03 January 20241 BAM = 11428.90 LAK
04 January 20241 BAM = 11457.00 LAK
05 January 20241 BAM = 11503.40 LAK
08 January 20241 BAM = 11360.20 LAK
09 January 20241 BAM = 11483.10 LAK
10 January 20241 BAM = 11411.50 LAK
11 January 20241 BAM = 11523.60 LAK
12 January 20241 BAM = 11503.40 LAK
15 January 20241 BAM = 11387.70 LAK
16 January 20241 BAM = 11319.10 LAK
17 January 20241 BAM = 11341.20 LAK
18 January 20241 BAM = 11447.60 LAK
19 January 20241 BAM = 11483.90 LAK
22 January 20241 BAM = 11352.00 LAK
23 January 20241 BAM = 11428.30 LAK
24 January 20241 BAM = 11479.20 LAK
25 January 20241 BAM = 11493.50 LAK
26 January 20241 BAM = 11450.70 LAK
29 January 20241 BAM = 11340.60 LAK
30 January 20241 BAM = 11443.90 LAK
31 January 20241 BAM = 11408.20 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.

01/11/2019: 25th Anniversary of the Convertible Mark

Bosnia and Herzegovina celebrated the 25th anniversary of the introduction of the Convertible Mark as its national currency.

15/08/2017: New Banknote Denominations

New banknote denominations of 200 BAM and 1,000 BAM were introduced to facilitate transactions and enhance the efficiency of cash handling.

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.

09/03/2010: New Polymer Banknotes

The Central Bank of Bosnia and Herzegovina introduced polymer banknotes to replace the paper banknotes, increasing durability and security.

28/02/2002: Replacement of Deutsche Mark with Euro

The Deutsche Mark was replaced by the euro as the main reference currency for the Convertible Mark's fixed exchange rate.

02/07/1998: Issuance of New Banknote Series

A new series of banknotes was issued, featuring updated designs and enhanced security features.

02/07/1997: Lao kip devalued

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

01/07/1997: Currency Board Arrangement

A Currency Board Arrangement was established to maintain a fixed exchange rate between the Convertible Mark and the Deutsche Mark.

22/06/1995: Introduction of the Convertible Mark

The Convertible Mark was introduced as the official currency of Bosnia and Herzegovina, replacing the Yugoslav dinar.

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.

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.