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.
14/09/2020: Centenary of the Quetzal
The Guatemalan Quetzal celebrated its centenary, marking 100 years as the national currency of Guatemala.
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.
30/05/2011: New banknotes
New banknotes were introduced to incorporate modern security features and commemorate the 20th anniversary of Quetzal's reintroduction.
02/07/1997: Lao kip devalued
Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.
09/02/1987: Quetzal devaluation
The Quetzal was devalued by 66% as part of an economic stabilization plan.
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.
13/09/1967: Decree Law 17-67
Decree Law 17-67 was enacted, establishing a fixed exchange rate between the Quetzal and 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.
08/04/1951: Monetary Reform
Guatemala underwent a monetary reform, with the introduction of the Quetzal as the sole currency.
25/06/1946: The Quetzalé bill
The Quetzalé bill, equivalent to 1,000 Quetzales, was introduced to combat hyperinflation.
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.
22/06/1925: Introduction of the Quetzal
The Guatemalan Quetzal was introduced as the official currency, replacing the Guatemalan peso.