Historic Lao kip Eritrean nakfa

Lao kip eritrean nakfa history for February 2024. The highest quote for this month is 0.000731 (13/02/2024) and the lowest 0.000737 (02/02/2024). The difference between high and low is -0.82.

LAK ERN average rate for February 2024 is 0.00073, the change between 01/02/2024 and 29/02/2024 is -0.27 %.

01 February 20241 LAK = 0.0007 ERN
02 February 20241 LAK = 0.0007 ERN
03 February 20241 LAK = 0.0007 ERN
04 February 20241 LAK = 0.0007 ERN
05 February 20241 LAK = 0.0007 ERN
06 February 20241 LAK = 0.0007 ERN
07 February 20241 LAK = 0.0007 ERN
08 February 20241 LAK = 0.0007 ERN
09 February 20241 LAK = 0.0007 ERN
12 February 20241 LAK = 0.0007 ERN
13 February 20241 LAK = 0.0007 ERN
14 February 20241 LAK = 0.0007 ERN
15 February 20241 LAK = 0.0007 ERN
16 February 20241 LAK = 0.0007 ERN
17 February 20241 LAK = 0.0007 ERN
18 February 20241 LAK = 0.0007 ERN
19 February 20241 LAK = 0.0007 ERN
20 February 20241 LAK = 0.0007 ERN
21 February 20241 LAK = 0.0007 ERN
22 February 20241 LAK = 0.0007 ERN
23 February 20241 LAK = 0.0007 ERN
24 February 20241 LAK = 0.0007 ERN
25 February 20241 LAK = 0.0007 ERN
26 February 20241 LAK = 0.0007 ERN
27 February 20241 LAK = 0.0007 ERN
28 February 20241 LAK = 0.0007 ERN
29 February 20241 LAK = 0.0007 ERN

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.

08/04/2020: COVID-19 impact on currency circulation

Due to the COVID-19 pandemic, circulation of nakfa banknotes decreased as people relied more on digital transactions.

25/02/2019: Introduction of new nakfa banknotes

Eritrea introduced new banknotes in denominations of 5, 10, 20, 50, and 100 nakfa.

30/10/2018: Currency devaluation

Eritrea devalued the nakfa by 14%, reducing its official exchange rate to 1 USD = 15 ERN.

22/01/2015: Dollarization policy imposed

Eritrea imposed a dollarization policy, making the US dollar the predominant currency for most transactions.

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.

14/11/2005: Currency redenomination

The Eritrean nakfa underwent a redenomination where old nakfa notes were replaced with new nakfa notes in a ratio of 1:1,000.

08/11/1997: Introduction of the Eritrean nakfa

The Eritrean nakfa was introduced as the official currency of Eritrea, replacing the Ethiopian birr.

08/11/1997: Currency exchange rate fixed

The Eritrean nakfa was fixed at an exchange rate of 1 USD = 10 ERN.

02/07/1997: Lao kip devalued

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

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.
LAK ERN January 2024
LAK ERN February 2024
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LAK ERN December 2024
LAK ERN January 2025