Panamanian Balboa lao kip exchange rate history (PAB LAK) August 2023

Panamanian Balboa lao kip history for August 2023. The highest quote for this month is 19873.1 (31/08/2023) and the lowest 19863.3 (31/08/2023). The difference between high and low is 0.05.

PAB LAK average rate for August 2023 is 19643.136, the change between 01/08/2023 and 31/08/2023 is -2.09 %.

01 August 2023	1 PAB = 19453.70 LAK
02 August 2023	1 PAB = 19435.40 LAK
03 August 2023	1 PAB = 19592.20 LAK
04 August 2023	1 PAB = 19506.50 LAK
07 August 2023	1 PAB = 19652.20 LAK
08 August 2023	1 PAB = 19643.00 LAK
09 August 2023	1 PAB = 19644.50 LAK
10 August 2023	1 PAB = 19655.10 LAK
11 August 2023	1 PAB = 19655.80 LAK
12 August 2023	1 PAB = 19374.00 LAK
14 August 2023	1 PAB = 19656.60 LAK
15 August 2023	1 PAB = 19535.20 LAK
16 August 2023	1 PAB = 19564.60 LAK
17 August 2023	1 PAB = 19615.90 LAK
18 August 2023	1 PAB = 19667.10 LAK
20 August 2023	1 PAB = 19200.70 LAK
21 August 2023	1 PAB = 19731.50 LAK
22 August 2023	1 PAB = 19765.50 LAK
23 August 2023	1 PAB = 19748.60 LAK
24 August 2023	1 PAB = 19753.20 LAK
25 August 2023	1 PAB = 19807.10 LAK
28 August 2023	1 PAB = 19840.80 LAK
29 August 2023	1 PAB = 19865.00 LAK
30 August 2023	1 PAB = 19853.20 LAK
31 August 2023	1 PAB = 19861.00 LAK

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.

01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes

Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa 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.

31/03/1983: Currency Control Law Implemented

Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.

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.

15/10/1941: First Issue of Panamanian Balboa Banknotes

The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.

01/10/1941: Introduction of the Balboa as Legal Tender

The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.

01/10/1908: Creation of Panamanian Currency Board

The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.

01/01/1907: Use of US Dollar in Panama

The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.

18/11/1904: Panama Canal Construction Begins

The construction of the Panama Canal started, which would later lead to the need for a national currency.

Historic Panamanian Balboa Lao kip