Historic South African rand Lao kip

South African rand lao kip history for February 2024. The highest quote for this month is 1105.03 (17/02/2024) and the lowest 1105.75 (01/02/2024). The difference between high and low is -0.07.

ZAR LAK average rate for February 2024 is 1093.4363, the change between 01/02/2024 and 29/02/2024 is +3.69 %.

01 February 20241 ZAR = 1110.75 LAK
02 February 20241 ZAR = 1116.06 LAK
03 February 20241 ZAR = 1097.05 LAK
04 February 20241 ZAR = 1098.04 LAK
05 February 20241 ZAR = 1097.56 LAK
06 February 20241 ZAR = 1081.33 LAK
07 February 20241 ZAR = 1104.02 LAK
08 February 20241 ZAR = 1100.08 LAK
09 February 20241 ZAR = 1095.62 LAK
12 February 20241 ZAR = 1084.41 LAK
13 February 20241 ZAR = 1100.08 LAK
14 February 20241 ZAR = 1090.34 LAK
15 February 20241 ZAR = 1093.62 LAK
16 February 20241 ZAR = 1099.29 LAK
17 February 20241 ZAR = 1105.03 LAK
18 February 20241 ZAR = 1105.03 LAK
19 February 20241 ZAR = 1095.53 LAK
20 February 20241 ZAR = 1088.68 LAK
21 February 20241 ZAR = 1100.15 LAK
22 February 20241 ZAR = 1101.28 LAK
23 February 20241 ZAR = 1087.07 LAK
24 February 20241 ZAR = 1080.71 LAK
25 February 20241 ZAR = 1079.10 LAK
26 February 20241 ZAR = 1067.89 LAK
27 February 20241 ZAR = 1083.04 LAK
28 February 20241 ZAR = 1091.28 LAK
29 February 20241 ZAR = 1069.74 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.

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.
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