Historic Lao kip Cuban peso

Lao kip cuban peso history for February 2024. The highest quote for this month is 0.001167 (05/02/2024) and the lowest 0.001167 (01/02/2024). The difference between high and low is 0.

LAK CUP average rate for February 2024 is 0.00116, the change between 01/02/2024 and 29/02/2024 is -0.35 %.

01 February 20241 LAK = 0.0012 CUP
02 February 20241 LAK = 0.0012 CUP
03 February 20241 LAK = 0.0012 CUP
04 February 20241 LAK = 0.0012 CUP
05 February 20241 LAK = 0.0012 CUP
06 February 20241 LAK = 0.0012 CUP
07 February 20241 LAK = 0.0012 CUP
08 February 20241 LAK = 0.0012 CUP
09 February 20241 LAK = 0.0012 CUP
12 February 20241 LAK = 0.0012 CUP
13 February 20241 LAK = 0.0012 CUP
14 February 20241 LAK = 0.0012 CUP
15 February 20241 LAK = 0.0012 CUP
16 February 20241 LAK = 0.0012 CUP
17 February 20241 LAK = 0.0012 CUP
18 February 20241 LAK = 0.0012 CUP
19 February 20241 LAK = 0.0012 CUP
20 February 20241 LAK = 0.0012 CUP
21 February 20241 LAK = 0.0012 CUP
22 February 20241 LAK = 0.0012 CUP
23 February 20241 LAK = 0.0012 CUP
24 February 20241 LAK = 0.0012 CUP
25 February 20241 LAK = 0.0012 CUP
26 February 20241 LAK = 0.0012 CUP
27 February 20241 LAK = 0.0012 CUP
28 February 20241 LAK = 0.0012 CUP
29 February 20241 LAK = 0.0012 CUP

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.

01/01/2021: End of Monetary Dualism

The Cuban government completed the currency unification process, eliminating the convertible peso (CUC) and establishing a single currency system with the Cuban peso (CUP).

20/12/2013: Currency Unification Implementation

The Cuban government officially started the process of currency unification, gradually phasing out the convertible peso (CUC) and improving monetary policy.

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.

25/10/2011: Currency Unification Announced

The Cuban government announced plans to eliminate the dual currency system and unify the CUP and CUC.

08/12/2004: Elimination of US Dollar Circulation

The Cuban government announced the withdrawal of the US dollar as legal tender and introduced the convertible peso (CUC) as a replacement.

02/07/1997: Lao kip devalued

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

07/12/1994: Dollarization Decree

Cubans were allowed to hold and transact in foreign currencies, primarily the US dollar, to counter the economic crisis.

01/08/1994: Special Period

The Cuban economy faced a severe crisis due to the collapse of the Soviet Union, leading to currency devaluation and economic reforms.

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.

01/01/1961: Nationalization of Banks

The Cuban government nationalized all private and foreign-owned banks, including their currency holdings.

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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