Historic Convertible Mark Lao kip

Convertible Mark lao kip history for March 2024. The highest quote for this month is 11938.2 (01/03/2024) and the lowest 12059.2 (12/03/2024). The difference between high and low is -1.01.

BAM LAK average rate for March 2024 is 11685.4875, the change between 01/03/2024 and 31/03/2024 is +2.36 %.

01 March 20241 BAM = 11938.20 LAK
04 March 20241 BAM = 11812.20 LAK
05 March 20241 BAM = 11870.90 LAK
06 March 20241 BAM = 11512.50 LAK
07 March 20241 BAM = 11661.40 LAK
08 March 20241 BAM = 11500.20 LAK
11 March 20241 BAM = 11531.80 LAK
12 March 20241 BAM = 11656.70 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.