Historic Arab Emirates Dirham Lao kip

Arab Emirates Dirham lao kip history for August 2023. The highest quote for this month is 5289.96 (25/08/2023) and the lowest 5278.83 (29/08/2023). The difference between high and low is 0.21.

AED LAK average rate for August 2023 is 5235.63423, the change between 01/08/2023 and 31/08/2023 is -2.07 %.

01 August 20231 AED = 5180.96 LAK
02 August 20231 AED = 5174.29 LAK
03 August 20231 AED = 5221.50 LAK
04 August 20231 AED = 5187.91 LAK
07 August 20231 AED = 5196.42 LAK
08 August 20231 AED = 5224.48 LAK
09 August 20231 AED = 5226.46 LAK
10 August 20231 AED = 5231.31 LAK
11 August 20231 AED = 5231.68 LAK
12 August 20231 AED = 5275.57 LAK
14 August 20231 AED = 5251.33 LAK
15 August 20231 AED = 5201.53 LAK
16 August 20231 AED = 5206.97 LAK
17 August 20231 AED = 5220.59 LAK
18 August 20231 AED = 5232.92 LAK
19 August 20231 AED = 5228.38 LAK
20 August 20231 AED = 5228.38 LAK
21 August 20231 AED = 5236.09 LAK
22 August 20231 AED = 5255.99 LAK
23 August 20231 AED = 5254.63 LAK
24 August 20231 AED = 5254.63 LAK
25 August 20231 AED = 5269.61 LAK
28 August 20231 AED = 5280.66 LAK
29 August 20231 AED = 5285.42 LAK
30 August 20231 AED = 5280.52 LAK
31 August 20231 AED = 5288.26 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.

17/06/2018: Introduction of New Banknotes

A new series of UAE dirham banknotes, featuring enhanced durability, 3D security features, and tactile marks for visually impaired individuals, is introduced.

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.

01/01/2007: Security Enhancements

New security features, including holograms and advanced anti-counterfeiting measures, are added to the UAE dirham banknotes.

01/12/2002: Introduction of Modern Coinage

A new series of UAE dirham coins, featuring modern designs and security features, is introduced.

02/07/1997: Lao kip devalued

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

20/03/1995: Currency Peg to US Dollar

The UAE dirham is pegged to the United States dollar at a fixed exchange rate of 1 USD to 3.6725 AED.

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.

01/01/1978: Currency Issuance Authority

The UAE Currency Issuing Authority is established, granting the authority to issue and manage the UAE dirham.

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.

28/01/1973: Decoupling from Pound Sterling

The UAE dirham is officially decoupled from the British pound sterling and a new exchange rate is set.

02/12/1971: Formation of UAE

The United Arab Emirates is formed, resulting in the introduction of the UAE dirham as its official currency.

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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