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.
01/04/2019: Romania plans to adopt the euro
The Romanian government announces its intention to join the Eurozone and set a target date for adopting the euro as the national currency.
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.
01/06/2005: Currency redenomination
Romania underwent a currency redenomination, with 10,000 old lei being exchanged for 1 new leu, to simplify transactions and eliminate zeros.
01/07/2003: Romania joins EU Accession
As part of joining the European Union, Romania pledges to adopt the euro in the future, aiming for greater economic integration.
02/07/1997: Lao kip devalued
Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.
28/02/1991: End of communist era
As communism collapsed, Romania undergoes economic reforms and introduces a free-floating exchange rate system for the leu.
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.
01/01/1952: 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.
30/12/1947: Communist regime introduces new leu
In an attempt to devalue the currency and control the economy, the Communist regime introduces a new leu at a ratio of 1:20,000.
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.
01/03/1901: Introduction of the gold standard
Romanian leu was tied to the gold standard, ensuring the stability of the currency and attracting foreign investments.
01/04/1867: Creation of the Romanian leu
The leu was established as the official currency of Romania, replacing the previous currencies in circulation.