Saudi riyal lao kip exchange rate history (SAR LAK) October 2023

Saudi riyal lao kip history for October 2023. The highest quote for this month is 5522.19 (28/10/2023) and the lowest 5523.96 (29/10/2023). The difference between high and low is -0.03.

SAR LAK average rate for October 2023 is 5468.94071, the change between 01/10/2023 and 31/10/2023 is -2.11 %.

01 October 2023	1 SAR = 5410.45 LAK
02 October 2023	1 SAR = 5385.73 LAK
03 October 2023	1 SAR = 5422.11 LAK
04 October 2023	1 SAR = 5432.73 LAK
05 October 2023	1 SAR = 5454.04 LAK
06 October 2023	1 SAR = 5393.29 LAK
07 October 2023	1 SAR = 5456.85 LAK
09 October 2023	1 SAR = 5384.98 LAK
10 October 2023	1 SAR = 5408.03 LAK
11 October 2023	1 SAR = 5459.42 LAK
12 October 2023	1 SAR = 5465.38 LAK
13 October 2023	1 SAR = 5466.98 LAK
16 October 2023	1 SAR = 5454.13 LAK
17 October 2023	1 SAR = 5505.34 LAK
18 October 2023	1 SAR = 5503.82 LAK
19 October 2023	1 SAR = 5450.78 LAK
20 October 2023	1 SAR = 5514.84 LAK
21 October 2023	1 SAR = 5515.82 LAK
22 October 2023	1 SAR = 5514.35 LAK
23 October 2023	1 SAR = 5452.99 LAK
24 October 2023	1 SAR = 5521.79 LAK
25 October 2023	1 SAR = 5511.30 LAK
26 October 2023	1 SAR = 5511.90 LAK
27 October 2023	1 SAR = 5511.77 LAK
28 October 2023	1 SAR = 5522.19 LAK
29 October 2023	1 SAR = 5523.96 LAK
30 October 2023	1 SAR = 5450.75 LAK
31 October 2023	1 SAR = 5524.62 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.

20/05/2018: SAMA grants licenses for full-fledged digital banks

SAMA issued licenses to two banks for providing digital banking services, reflecting a shift towards digitalization in the financial sector.

21/12/2016: Saudi Arabia introduces the SAR 200 note

A new 200 riyal banknote was introduced, featuring a portrait of King Abdullah bin Abdulaziz Al Saud.

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.

20/12/2003: Launch of Riyal Interbank Express (SARIE)

SAMA launched SARIE, a real-time gross settlement system, improving interbank transactions and money transfers.

02/07/1997: Lao kip devalued

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

27/05/1997: Introduction of Saudi Arabian Monetary Agency new design series

SAMA introduced a new series of banknotes with enhanced security features to combat counterfeiting.

30/06/1986: Saudi riyal pegged to the US dollar at 3.75 SAR per USD

Saudi Arabia pegged its currency to the USD, ensuring stability and ease of trade with international partners.

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.

01/03/1952: Introduction of Saudi Arabian Monetary Agency (SAMA)

SAMA was established as the central bank of Saudi Arabia, responsible for issuing and managing the Saudi riyal.

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.

23/09/1932: Establishment of the Kingdom of Saudi Arabia

The Saudi riyal currency was introduced following the unification of the Kingdom under King Abdulaziz Al Saud.

Historic Saudi riyal Lao kip