Historic Lao kip Georgian Lari

Lao kip georgian lari history for March 2024. The highest quote for this month is 0.000128 (04/03/2024) and the lowest 0.000128 (01/03/2024). The difference between high and low is 0.

LAK GEL average rate for March 2024 is 0.00013, the change between 01/03/2024 and 31/03/2024 is 0 %.

01 March 20241 LAK = 0.0001 GEL
04 March 20241 LAK = 0.0001 GEL
05 March 20241 LAK = 0.0001 GEL
06 March 20241 LAK = 0.0001 GEL
07 March 20241 LAK = 0.0001 GEL
08 March 20241 LAK = 0.0001 GEL
11 March 20241 LAK = 0.0001 GEL
12 March 20241 LAK = 0.0001 GEL

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.

13/03/2020: COVID-19 Impact

The outbreak of the COVID-19 pandemic caused global economic uncertainty, leading to a decline in the value of the Georgian Lari and affecting the country's financial stability.

25/01/2016: Currency Restructuring

The National Bank of Georgia implemented currency restructuring measures to stabilize the value of the Lari and restore confidence in the national currency.

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.

10/03/2011: Lari Depreciation

The Georgian Lari experienced a sharp depreciation, reaching a record low against the U.S. dollar, due to various economic factors and a global financial crisis.

13/08/2008: Russian Invasion

During the Russo-Georgian War, the Georgian Lari faced significant devaluation due to the economic and political instability caused by the invasion.

01/01/2002: Euro Conversion Rate

The conversion rate of 1 Euro = 1936.27 GEL was fixed, as Georgia adopted the Euro as its main reference currency.

27/04/1999: Introduction of New Lari

The New Lari was introduced as the second and current official currency of Georgia, replacing the old Lari at a rate of 1 New Lari = 1,000 old Lari.

02/07/1997: Lao kip devalued

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

25/07/1995: Introduction of the Lari

The Georgian Lari was introduced as the official currency of Georgia, replacing the Russian ruble at a rate of 1 Lari = 1 million rubles.

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.