Lao kip nigerian naira exchange rate history (LAK NGN) December 2023

Lao kip nigerian naira history for December 2023. The highest quote for this month is 0.044526 (22/12/2023) and the lowest 0.044417 (27/12/2023). The difference between high and low is 0.24.

LAK NGN average rate for December 2023 is 0.04009, the change between 01/12/2023 and 31/12/2023 is -13.29 %.

01 December 2023	1 LAK = 0.0386 NGN
02 December 2023	1 LAK = 0.0381 NGN
03 December 2023	1 LAK = 0.0381 NGN
04 December 2023	1 LAK = 0.0385 NGN
05 December 2023	1 LAK = 0.0386 NGN
06 December 2023	1 LAK = 0.0388 NGN
07 December 2023	1 LAK = 0.0391 NGN
08 December 2023	1 LAK = 0.0387 NGN
10 December 2023	1 LAK = 0.0381 NGN
11 December 2023	1 LAK = 0.0391 NGN
12 December 2023	1 LAK = 0.0383 NGN
13 December 2023	1 LAK = 0.0391 NGN
14 December 2023	1 LAK = 0.0388 NGN
15 December 2023	1 LAK = 0.0383 NGN
16 December 2023	1 LAK = 0.0384 NGN
17 December 2023	1 LAK = 0.0384 NGN
18 December 2023	1 LAK = 0.0392 NGN
19 December 2023	1 LAK = 0.0387 NGN
20 December 2023	1 LAK = 0.0391 NGN
21 December 2023	1 LAK = 0.0401 NGN
22 December 2023	1 LAK = 0.0401 NGN
23 December 2023	1 LAK = 0.0441 NGN
24 December 2023	1 LAK = 0.0439 NGN
25 December 2023	1 LAK = 0.0444 NGN
26 December 2023	1 LAK = 0.0444 NGN
27 December 2023	1 LAK = 0.0441 NGN
28 December 2023	1 LAK = 0.0435 NGN
29 December 2023	1 LAK = 0.0438 NGN

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.

20/03/2020: Impact of COVID-19 Pandemic

The outbreak of the COVID-19 pandemic resulted in a significant decline in oil prices, affecting Nigeria's economy and putting pressure on the Naira's exchange rate.

20/06/2016: Adoption of Flexible Exchange Rate Policy

The Central Bank of Nigeria adopted a flexible exchange rate policy, allowing the Naira to float freely against other currencies based on market forces.

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.

29/05/1999: Transition to Democratic Governance

Nigeria transitioned to democratic governance, leading to economic reforms and stability, positively affecting the value and management of the Naira currency.

02/07/1997: Lao kip devalued

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

12/06/1993: Introduction of the Third Nigerian Naira

The third Nigerian Naira (NGN) was introduced after the country's return to civilian rule following years of military regimes.

31/12/1984: Implementation of the Structural Adjustment Program

The Nigerian government implemented the Structural Adjustment Program, leading to a significant devaluation of the Naira and the adoption of a floating exchange rate.

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.

01/07/1979: Adoption of the Second Nigerian Naira

The second Nigerian Naira (NGN) was introduced following the adoption of a new constitution and the country's transition to civilian rule.

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.

01/07/1973: Introduction of decimal currency

The Nigerian Naira was introduced as the official currency of Nigeria, replacing the pound sterling with a decimal currency system.

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.

Historic Lao kip Nigerian Naira