Historic Panamanian Balboa Lao kip

Panamanian Balboa lao kip history for February 2024. The highest quote for this month is 21314.1 (15/02/2024) and the lowest 21135.5 (14/02/2024). The difference between high and low is 0.84.

PAB LAK average rate for February 2024 is 21123.81852, the change between 01/02/2024 and 29/02/2024 is +0.35 %.

01 February 20241 PAB = 21201.30 LAK
02 February 20241 PAB = 21216.10 LAK
03 February 20241 PAB = 20734.00 LAK
04 February 20241 PAB = 20734.00 LAK
05 February 20241 PAB = 21018.40 LAK
06 February 20241 PAB = 21064.30 LAK
07 February 20241 PAB = 21255.40 LAK
08 February 20241 PAB = 21280.20 LAK
09 February 20241 PAB = 21261.00 LAK
12 February 20241 PAB = 21083.30 LAK
13 February 20241 PAB = 21285.90 LAK
14 February 20241 PAB = 21293.20 LAK
15 February 20241 PAB = 21306.90 LAK
16 February 20241 PAB = 21324.30 LAK
17 February 20241 PAB = 20822.00 LAK
18 February 20241 PAB = 20822.00 LAK
19 February 20241 PAB = 21112.30 LAK
20 February 20241 PAB = 21112.40 LAK
21 February 20241 PAB = 21290.90 LAK
22 February 20241 PAB = 21304.10 LAK
23 February 20241 PAB = 21296.80 LAK
24 February 20241 PAB = 20832.00 LAK
25 February 20241 PAB = 20832.00 LAK
26 February 20241 PAB = 21122.30 LAK
27 February 20241 PAB = 21302.70 LAK
28 February 20241 PAB = 21308.30 LAK
29 February 20241 PAB = 21127.00 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.
PAB LAK July 2023
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