Historic South African rand Lao kip

South African rand lao kip history for January 2024. The highest quote for this month is 1110.81 (01/01/2024) and the lowest 1114.99 (02/01/2024). The difference between high and low is -0.38.

ZAR LAK average rate for January 2024 is 1096.59778, the change between 01/01/2024 and 31/01/2024 is +1.16 %.

01 January 20241 ZAR = 1113.88 LAK
02 January 20241 ZAR = 1113.01 LAK
03 January 20241 ZAR = 1104.79 LAK
04 January 20241 ZAR = 1097.77 LAK
05 January 20241 ZAR = 1101.84 LAK
06 January 20241 ZAR = 1102.48 LAK
07 January 20241 ZAR = 1102.48 LAK
08 January 20241 ZAR = 1088.30 LAK
09 January 20241 ZAR = 1108.59 LAK
10 January 20241 ZAR = 1093.10 LAK
11 January 20241 ZAR = 1104.57 LAK
12 January 20241 ZAR = 1103.51 LAK
14 January 20241 ZAR = 1106.87 LAK
15 January 20241 ZAR = 1094.79 LAK
16 January 20241 ZAR = 1093.24 LAK
17 January 20241 ZAR = 1077.65 LAK
18 January 20241 ZAR = 1081.81 LAK
19 January 20241 ZAR = 1090.85 LAK
22 January 20241 ZAR = 1074.95 LAK
23 January 20241 ZAR = 1075.11 LAK
24 January 20241 ZAR = 1091.83 LAK
25 January 20241 ZAR = 1094.93 LAK
26 January 20241 ZAR = 1094.52 LAK
28 January 20241 ZAR = 1102.04 LAK
29 January 20241 ZAR = 1093.55 LAK
30 January 20241 ZAR = 1100.73 LAK
31 January 20241 ZAR = 1100.95 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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