Historic Lao kip South Korean Won

Lao kip south korean won history for February 2024. The highest quote for this month is 0.065053 (13/02/2024) and the lowest 0.064664 (01/02/2024). The difference between high and low is 0.6.

LAK KRW average rate for February 2024 is 0.06419, the change between 01/02/2024 and 29/02/2024 is -0.34 %.

01 February 20241 LAK = 0.0645 KRW
02 February 20241 LAK = 0.0641 KRW
03 February 20241 LAK = 0.0645 KRW
04 February 20241 LAK = 0.0645 KRW
05 February 20241 LAK = 0.0645 KRW
06 February 20241 LAK = 0.0647 KRW
07 February 20241 LAK = 0.0639 KRW
08 February 20241 LAK = 0.0639 KRW
09 February 20241 LAK = 0.0641 KRW
12 February 20241 LAK = 0.0646 KRW
13 February 20241 LAK = 0.0639 KRW
14 February 20241 LAK = 0.0645 KRW
15 February 20241 LAK = 0.0637 KRW
16 February 20241 LAK = 0.0638 KRW
17 February 20241 LAK = 0.0639 KRW
18 February 20241 LAK = 0.0639 KRW
19 February 20241 LAK = 0.0646 KRW
20 February 20241 LAK = 0.0647 KRW
21 February 20241 LAK = 0.0641 KRW
22 February 20241 LAK = 0.0640 KRW
23 February 20241 LAK = 0.0638 KRW
24 February 20241 LAK = 0.0638 KRW
25 February 20241 LAK = 0.0638 KRW
26 February 20241 LAK = 0.0645 KRW
27 February 20241 LAK = 0.0640 KRW
28 February 20241 LAK = 0.0640 KRW
29 February 20241 LAK = 0.0647 KRW

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.

14/10/2013: 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.

27/10/2008: Global Financial Crisis

The Korean Won faced significant volatility during the global financial crisis, as global markets tumbled and investor confidence wavered.

01/01/1998: Establishment of IMF Program

South Korea agreed to an International Monetary Fund (IMF) bailout package, which stabilized the value of the Korean Won and initiated economic reforms.

03/12/1997: Asian Financial Crisis

The Korean Won experienced a sharp depreciation during the Asian Financial Crisis, causing severe economic hardships and requiring international assistance.

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.

27/02/1980: Declaration of Martial Law

Amidst political turmoil, President Chun Doo-hwan declared martial law, causing economic instability and impacting the value of the Korean Won.

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.

22/06/1962: Introduction of the Hwan

To combat inflation, the South Korean government introduced the Hwan as the new currency, replacing the old Korean Won.

27/07/1953: Armistice Agreement

Following the Korean War, the Armistice Agreement was signed, stabilizing the region and aiding in the recovery of the Korean Won.

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.

15/08/1945: Liberation from Japanese Rule

Upon the end of Japanese colonial rule, the Korean Won was introduced as the official currency of South Korea.
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