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

Panamanian Balboa lao kip history for October 2023. The highest quote for this month is 21166 (30/10/2023) and the lowest 20988 (30/10/2023). The difference between high and low is 0.84.

PAB LAK average rate for October 2023 is 20889.84643, the change between 01/10/2023 and 31/10/2023 is -4.62 %.

01 October 2023	1 PAB = 20280.00 LAK
02 October 2023	1 PAB = 20640.00 LAK
03 October 2023	1 PAB = 20790.90 LAK
04 October 2023	1 PAB = 20839.80 LAK
05 October 2023	1 PAB = 20947.50 LAK
06 October 2023	1 PAB = 20752.70 LAK
07 October 2023	1 PAB = 20455.00 LAK
09 October 2023	1 PAB = 20752.10 LAK
10 October 2023	1 PAB = 20757.10 LAK
11 October 2023	1 PAB = 20933.70 LAK
12 October 2023	1 PAB = 20966.40 LAK
13 October 2023	1 PAB = 20971.70 LAK
16 October 2023	1 PAB = 20923.30 LAK
17 October 2023	1 PAB = 21118.70 LAK
18 October 2023	1 PAB = 21147.50 LAK
19 October 2023	1 PAB = 20913.30 LAK
20 October 2023	1 PAB = 21169.10 LAK
21 October 2023	1 PAB = 20670.00 LAK
22 October 2023	1 PAB = 20670.00 LAK
23 October 2023	1 PAB = 20964.70 LAK
24 October 2023	1 PAB = 21194.10 LAK
25 October 2023	1 PAB = 21146.20 LAK
26 October 2023	1 PAB = 21147.30 LAK
27 October 2023	1 PAB = 21147.50 LAK
28 October 2023	1 PAB = 20706.00 LAK
29 October 2023	1 PAB = 20706.00 LAK
30 October 2023	1 PAB = 20987.80 LAK
31 October 2023	1 PAB = 21217.30 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