Historic Lao kip South African rand

Lao kip south african rand history for February 2024. The highest quote for this month is 0.000935 (29/02/2024) and the lowest 0.000933 (26/02/2024). The difference between high and low is 0.21.

LAK ZAR average rate for February 2024 is 0.00091, the change between 01/02/2024 and 29/02/2024 is -3.89 %.

01 February 20241 LAK = 0.0009 ZAR
02 February 20241 LAK = 0.0009 ZAR
03 February 20241 LAK = 0.0009 ZAR
04 February 20241 LAK = 0.0009 ZAR
05 February 20241 LAK = 0.0009 ZAR
06 February 20241 LAK = 0.0009 ZAR
07 February 20241 LAK = 0.0009 ZAR
08 February 20241 LAK = 0.0009 ZAR
09 February 20241 LAK = 0.0009 ZAR
12 February 20241 LAK = 0.0009 ZAR
13 February 20241 LAK = 0.0009 ZAR
14 February 20241 LAK = 0.0009 ZAR
15 February 20241 LAK = 0.0009 ZAR
16 February 20241 LAK = 0.0009 ZAR
17 February 20241 LAK = 0.0009 ZAR
18 February 20241 LAK = 0.0009 ZAR
19 February 20241 LAK = 0.0009 ZAR
20 February 20241 LAK = 0.0009 ZAR
21 February 20241 LAK = 0.0009 ZAR
22 February 20241 LAK = 0.0009 ZAR
23 February 20241 LAK = 0.0009 ZAR
24 February 20241 LAK = 0.0009 ZAR
25 February 20241 LAK = 0.0009 ZAR
26 February 20241 LAK = 0.0009 ZAR
27 February 20241 LAK = 0.0009 ZAR
28 February 20241 LAK = 0.0009 ZAR
29 February 20241 LAK = 0.0009 ZAR

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.

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

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.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

02/07/1997: Lao kip devalued

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

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

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.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.

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.
LAK ZAR January 2024
LAK ZAR February 2024
LAK ZAR March 2024
LAK ZAR April 2024
LAK ZAR May 2024
LAK ZAR June 2024
LAK ZAR July 2024
LAK ZAR August 2024
LAK ZAR September 2024
LAK ZAR October 2024
LAK ZAR November 2024
LAK ZAR December 2024
LAK ZAR January 2025