Lao kip somali shilling history for March 2024. The highest quote for this month is 0.027496 (04/03/2024) and the lowest 0.027561 (07/03/2024). The difference between high and low is -0.24.
LAK SOS average rate for March 2024 is 0.02745, the change between 01/03/2024 and 31/03/2024 is +0.14 %.
| 01 March 2024 | 1 LAK = 0.0273 SOS |
| 04 March 2024 | 1 LAK = 0.0276 SOS |
| 05 March 2024 | 1 LAK = 0.0275 SOS |
| 06 March 2024 | 1 LAK = 0.0275 SOS |
| 07 March 2024 | 1 LAK = 0.0273 SOS |
| 08 March 2024 | 1 LAK = 0.0276 SOS |
| 11 March 2024 | 1 LAK = 0.0275 SOS |
| 12 March 2024 | 1 LAK = 0.0273 SOS |
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.
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.
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.
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.