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.
01/01/2019: Switch to the Bermuda dollar symbol
Bermuda officially adopted a new currency symbol for the Bermudian dollar, replacing the British pound sign used previously.
16/03/2015: Redesign of banknotes
The Bermuda Monetary Authority unveiled a redesigned series of banknotes featuring enhanced security features and updated designs.
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.
01/05/2012: Introduction of polymer banknotes
Bermuda introduced polymer banknotes to replace paper currency for better durability and security.
02/07/1997: Lao kip devalued
Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.
01/01/1997: Incorporation into Federal Reserve System
The US Federal Reserve System incorporated the Bermuda Monetary Authority into its banking system.
06/01/1982: New notes and coins
Bermuda issued new notes and coins, featuring iconic local sights, to commemorate its 375th anniversary.
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.
25/02/1972: Introduction of decimal coins
Bermuda introduced a decimal currency system, replacing the old pounds, shillings, and pence.
06/07/1970: Currency Board Agreement
Bermuda established a Currency Board System, pegging the Bermudian dollar at par with the US dollar.
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.