Historic Lao kip South African rand

Lao kip south african rand history for January 2024. The highest quote for this month is 0.000939 (17/01/2024) and the lowest 0.00093 (22/01/2024). The difference between high and low is 0.96.

LAK ZAR average rate for January 2024 is 0.00091, the change between 01/01/2024 and 31/01/2024 is -1.11 %.

01 January 20241 LAK = 0.0009 ZAR
02 January 20241 LAK = 0.0009 ZAR
03 January 20241 LAK = 0.0009 ZAR
04 January 20241 LAK = 0.0009 ZAR
05 January 20241 LAK = 0.0009 ZAR
06 January 20241 LAK = 0.0009 ZAR
07 January 20241 LAK = 0.0009 ZAR
08 January 20241 LAK = 0.0009 ZAR
09 January 20241 LAK = 0.0009 ZAR
10 January 20241 LAK = 0.0009 ZAR
11 January 20241 LAK = 0.0009 ZAR
12 January 20241 LAK = 0.0009 ZAR
14 January 20241 LAK = 0.0009 ZAR
15 January 20241 LAK = 0.0009 ZAR
16 January 20241 LAK = 0.0009 ZAR
17 January 20241 LAK = 0.0009 ZAR
18 January 20241 LAK = 0.0009 ZAR
19 January 20241 LAK = 0.0009 ZAR
22 January 20241 LAK = 0.0009 ZAR
23 January 20241 LAK = 0.0009 ZAR
24 January 20241 LAK = 0.0009 ZAR
25 January 20241 LAK = 0.0009 ZAR
26 January 20241 LAK = 0.0009 ZAR
28 January 20241 LAK = 0.0009 ZAR
29 January 20241 LAK = 0.0009 ZAR
30 January 20241 LAK = 0.0009 ZAR
31 January 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
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