Historic Lao kip Burmese kyat

Lao kip burmese kyat history for August 2023. The highest quote for this month is 0.10907 (01/08/2023) and the lowest 0.10982 (01/08/2023). The difference between high and low is -0.69.

LAK MMK average rate for August 2023 is 0.10825, the change between 01/08/2023 and 31/08/2023 is +2.04 %.

01 August 20231 LAK = 0.1094 MMK
02 August 20231 LAK = 0.1095 MMK
03 August 20231 LAK = 0.1086 MMK
04 August 20231 LAK = 0.1091 MMK
07 August 20231 LAK = 0.1083 MMK
08 August 20231 LAK = 0.1084 MMK
09 August 20231 LAK = 0.1084 MMK
10 August 20231 LAK = 0.1083 MMK
11 August 20231 LAK = 0.1083 MMK
12 August 20231 LAK = 0.1081 MMK
14 August 20231 LAK = 0.1083 MMK
15 August 20231 LAK = 0.1090 MMK
16 August 20231 LAK = 0.1088 MMK
17 August 20231 LAK = 0.1085 MMK
18 August 20231 LAK = 0.1082 MMK
19 August 20231 LAK = 0.1090 MMK
20 August 20231 LAK = 0.1090 MMK
21 August 20231 LAK = 0.1079 MMK
22 August 20231 LAK = 0.1077 MMK
23 August 20231 LAK = 0.1078 MMK
24 August 20231 LAK = 0.1078 MMK
25 August 20231 LAK = 0.1075 MMK
28 August 20231 LAK = 0.1073 MMK
29 August 20231 LAK = 0.1072 MMK
30 August 20231 LAK = 0.1072 MMK
31 August 20231 LAK = 0.1072 MMK

22/02/2021: Kyat's Depreciation Challenges

The Burmese kyat faced significant depreciation and instability due to political turmoil and the military coup in Myanmar.

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.

23/04/2015: Foreign Exchange Market Liberalization

Restrictions on foreign exchange were lifted, allowing a more liberalized foreign exchange market in Myanmar.

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.

02/04/2012: Managed Float Regime Implemented

The Burmese government adopted a managed float exchange rate regime, allowing the kyat to fluctuate 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.

01/04/1990: Foreign Exchange Certificates Introduced

Foreign Exchange Certificates (FECs) were introduced as a parallel currency to stabilize the economy and control the black market.

01/09/1987: Second Kyat Revalued

Due to hyperinflation, the Burmese kyat was again revalued, with 1 kyat replacing 10 new kyats.

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.

01/12/1964: Kyat Revalued

The Burmese kyat underwent a major revaluation, with 1 new kyat replacing 100 old kyats to combat inflation.

01/07/1952: Kyat Introduced

The Burmese kyat was first introduced as the official currency of Burma, replacing the Indian rupee at an exchange rate of 1 kyat = 1 rupee.

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.