Product Code Database
The kip (; code: LAK; currency sign: ₭ or ₭N; ; officially: ເງີນກີບລາວ, lit. "currency Lao kip") is the currency of Laos since 1955. Historically, one kip was divided into 100 att (ອັດ) which are no longer in regular use. The term derives from ກີບ kì:p, a Lao language word meaning "ingot."
On 10 October 1958, the kip's peg switched to the US dollar, and was officially devalued from ₭35 to ₭80 per US dollar: however, the official exchange rate did not reflect market conditions at the time, with the parallel rate reaching ₭600 per dollar by the end of 1963. Laos devalued the kip again on 1 January 1964, and adopted an official rate of ₭240 per dollar and a "free market" rate of about ₭505 per dollar: the free market rate then fell to ₭600 per dollar on 8 November 1971, with the official rate being abolished on 4 April 1972.
According to the Pathet Lao's media outlet Siang Pasason, one liberation kip was worth 6 royal kip on 20 August 1975, three days before the Pathet Lao entered Vientiane. Based on historic exchange rates provided by the International Monetary Fund, one US dollar in 1975 was worth 725 royal kip or 120.83 liberation kip.
In 1976, the new communist Laotian government replaced the royal kip with the liberation kip. The exchange rate was 20 royal kip per liberation kip. A currency confiscation was carried out, where individuals could exchange up to 100,000 royal kip for liberation kip, and businesses up to one million royal kip; they had to deposit the rest in state-owned banks.
| 10 att | Value, farmer | Emblem of Laos (1975-1991 version) | Aluminum | 1980 | ||
| 20 att | Value, farmer ploughing with ox | Emblem of Laos (1975-1991 version) | Aluminum | 1980 | ||
| 50 att | Value, fish | Emblem of Laos (1975-1991 version) | Aluminum | 1980 |
In 1957, the government issued notes denominated solely in kip. The notes were for 1, 5, 10, 20 and 50 kip printed by the Security Banknote Company, 100 kip printed by the Banque de France and a commemorative 500 kip printed by De La Rue. 1 and 5 kip notes printed by Bradbury & Wilkinson, as well as 10 kip notes by De La Rue were introduced in 1962.
In 1963, 20, 50, 200 and 1000 kip notes were added, all printed by De La Rue. These were followed by 100, 500 and 5000 kip notes in 1974–75, again by De La Rue. 10 kip notes by Bradbury & Wilkinson and 1000 kip notes by De La Rue were printed but not circulated.
The Bank of Laos governor announced on January 25, 2012, that the Bank of Laos would issue 100,000 Kip banknotes as a regular issue on February 1, 2012 (but dated 2011) to encourage Lao people to use the national currency instead of U.S. dollars and Thai baht. Laos new 100,000 kip note confirmed BanknoteNews.com. Retrieved 2012-02-03. As of 2019, the ₭500 note is the smallest one commonly in circulation.
| ₭1 | Militia unit at left, arms at upper right. | Classroom at left. | 1979 | ||
| ₭5 | Shopping | Elephant-logging | 1979 | ||
| ₭10 | Lumber mill at left, arms at upper right. | Hospital at left. | 1979 | ||
| ₭20 | Arms at left, tank with troop column at center. | Textile mill at center. | 1979 | ||
| ₭50 | Rice-planting | Hydroelectric dam | 1979 | ||
| ₭100 | Harvesting | Bridge | 1979 | ||
| ₭500 | Irrigation | Coffee bean harvesting | 1988 | ||
| ₭500 | Irrigation | Coffee bean harvesting | 2015 | ||
| ₭1,000 | Women from the three major ethnic groups of Laos: Lao Lum, Lao Sung and Lao Theung, with That Luang in the background. | Cattle herd | 1992-1996 | ||
| ₭1,000 | Women from the three major ethnic groups of Laos: Lao Lum, Lao Sung and Lao Theung, with That Luang in the background. | Cattle herd | 1998-2020 | ||
| ₭1,000 | Women from the three major ethnic groups of Laos: Lao Lum, Lao Sung and Lao Theung, with That Luang in the background. | Cattle herd | 2008 | ||
| ₭2,000 | President Kaysone Phomvihane (1920–1992), That Luang | Hydroelectric complex in Xeset | 1997-2003 | ||
| ₭2,000 | President Kaysone Phomvihane (1920–1992), Wat Xieng Thong in Luang Prabang | Hydroelectric complex in Xeset | 2011 | ||
| ₭5,000 | President Kaysone Phomvihane; That Luang | Cement factory in Vang Vieng | 1997-2003 | ||
| ₭5,000 | President Kaysone Phomvihane; That Luang | Cement factory in Vang Vieng | 2020 | ||
| ₭10,000 | President Kaysone Phomvihane; That Luang | Lao-Nippon bridge | 2002-2003 | ||
| ₭10,000 | President Kaysone Phomvihane; That Luang | Lao-Nippon bridge | 2020 | ||
| ₭20,000 | President Kaysone Phomvihane; Wat Xieng Thong Temple | Theun Hinboun hydroelectric power plant | 2002-2003 | ||
| ₭20,000 | President Kaysone Phomvihane; That Luang | Theun Hinboun hydroelectric power plant | 2020 | ||
| ₭50,000 | President Kaysone Phomvihane; That Luang | Presidential Palace | 2004 | ||
| ₭50,000 | President Kaysone Phomvihane; That Luang | Presidential Palace | 2020 | ||
| ₭100,000 | President Kaysone Phomvihane; That Luang | President Kaysone Phomevihane Statue and Museum [3] in Vientiane | 2011 | ||
| ₭100,000 | President Kaysone Phomvihane; That Luang | Viengxay caves in Houaphanh Province | 2020 |
| ₭100,000 | Statue of King Setthathirath, That Luang, Dok Champa flower and Nāga. | Haw Phra Kaew Temple | 2010 | P-40 |
| 1 September 1997 | 1,021 |
| 1 September 1998 | 3,408 |
| 1 September 1999 | 7,680 |
| 1 September 2000 | 7,527 |
| 3 September 2001 | 7,600 |
| 2 September 2002 | 7,562 |
| 1 September 2003 | 7,562 |
| 1 December 2004 | 7,842 |
| 1 September 2005 | 10,380 |
| 1 September 2006 | 10,033 |
| 3 September 2007 | 9,580 |
| 1 September 2008 | 8,500 |
| 1 September 2009 | 8,477 |
| 1 September 2010 | 8,100 |
| 1 September 2011 | 8,000 |
| 3 September 2012 | 7,968 |
| 2 September 2013 | 7,838 |
| 1 September 2014 | 8,034 |
| 1 September 2015 | 8,135 |
| 1 September 2016 | 8,088 |
| 30 July 2017 | 8,300 |
| 30 July 2018 | 8,402 |
| 4 January 2019 | 8,550.97 |
| 1 September 2020 | 8,906.86 |
| 1 September 2021 | 9,354.13 |
| 1 September 2022 | 15,186.4 |
| 12 May 2022 | 15,505.80 |
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