Historic Lao kip Malaysian ringgit

Lao kip malaysian ringgit history for February 2024. The highest quote for this month is 0.000232 (19/02/2024) and the lowest 0.000232 (12/02/2024). The difference between high and low is 0.

LAK MYR average rate for February 2024 is 0.00023, the change between 01/02/2024 and 29/02/2024 is -0.87 %.

01 February 20241 LAK = 0.0002 MYR
02 February 20241 LAK = 0.0002 MYR
03 February 20241 LAK = 0.0002 MYR
04 February 20241 LAK = 0.0002 MYR
05 February 20241 LAK = 0.0002 MYR
06 February 20241 LAK = 0.0002 MYR
07 February 20241 LAK = 0.0002 MYR
08 February 20241 LAK = 0.0002 MYR
09 February 20241 LAK = 0.0002 MYR
12 February 20241 LAK = 0.0002 MYR
13 February 20241 LAK = 0.0002 MYR
14 February 20241 LAK = 0.0002 MYR
15 February 20241 LAK = 0.0002 MYR
16 February 20241 LAK = 0.0002 MYR
17 February 20241 LAK = 0.0002 MYR
18 February 20241 LAK = 0.0002 MYR
19 February 20241 LAK = 0.0002 MYR
20 February 20241 LAK = 0.0002 MYR
21 February 20241 LAK = 0.0002 MYR
22 February 20241 LAK = 0.0002 MYR
23 February 20241 LAK = 0.0002 MYR
24 February 20241 LAK = 0.0002 MYR
25 February 20241 LAK = 0.0002 MYR
26 February 20241 LAK = 0.0002 MYR
27 February 20241 LAK = 0.0002 MYR
28 February 20241 LAK = 0.0002 MYR
29 February 20241 LAK = 0.0002 MYR

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.

18/03/2020: COVID-19 Pandemic Impact

The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.

12/08/2015: Ringgit Depreciation

The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.

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.

21/07/2005: Removal of Currency Peg

The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.

02/07/1997: Lao kip devalued

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

02/07/1997: Asian Financial Crisis

The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.

12/06/1985: Currency Pegged to the US Dollar

The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.

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.

29/08/1975: Change to Malaysian Ringgit

The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.

12/06/1967: Introduction of the Malaysian Dollar

The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo 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.

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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