United States dollar lao kip history for July 2023. The highest quote for this month is 19094.5 (31/07/2023) and the lowest 18920 (25/07/2023). The difference between high and low is 0.91.
USD LAK average rate for July 2023 is 18942.96667, the change between 01/07/2023 and 31/07/2023 is -0.94 %.
| 05 July 2023 | 1 USD = 18865.70 LAK |
| 25 July 2023 | 1 USD = 18920.00 LAK |
| 31 July 2023 | 1 USD = 19043.20 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.
02/07/1997: Lao kip devalued
Amidst the Asian financial crisis, the Lao government devalued the kip by approximately 20% against the US dollar.
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.