Historic Lao kip Australian dollar

Lao kip australian dollar history for November 2023. The highest quote for this month is 0.000077 (01/11/2023) and the lowest 0.000077 (10/11/2023). The difference between high and low is 0.

LAK AUD average rate for November 2023 is 0.00007, the change between 01/11/2023 and 30/11/2023 is +3.95 %.

01 November 20231 LAK = 0.0001 AUD
02 November 20231 LAK = 0.0001 AUD
03 November 20231 LAK = 0.0001 AUD
06 November 20231 LAK = 0.0001 AUD
07 November 20231 LAK = 0.0001 AUD
08 November 20231 LAK = 0.0001 AUD
09 November 20231 LAK = 0.0001 AUD
10 November 20231 LAK = 0.0001 AUD
12 November 20231 LAK = 0.0001 AUD
13 November 20231 LAK = 0.0001 AUD
14 November 20231 LAK = 0.0001 AUD
15 November 20231 LAK = 0.0001 AUD
16 November 20231 LAK = 0.0001 AUD
17 November 20231 LAK = 0.0001 AUD
18 November 20231 LAK = 0.0001 AUD
19 November 20231 LAK = 0.0001 AUD
20 November 20231 LAK = 0.0001 AUD
21 November 20231 LAK = 0.0001 AUD
22 November 20231 LAK = 0.0001 AUD
23 November 20231 LAK = 0.0001 AUD
24 November 20231 LAK = 0.0001 AUD
26 November 20231 LAK = 0.0001 AUD
27 November 20231 LAK = 0.0001 AUD
28 November 20231 LAK = 0.0001 AUD
29 November 20231 LAK = 0.0001 AUD
30 November 20231 LAK = 0.0001 AUD

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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