LAK / ZAR

The kip is the official currency of Laos, introduced in 1952 to replace the French Indochinese piastre. It is issued by the Bank of the Lao P.D.R., carries the symbol ₭ and is subdivided into 100 att, although att coins have not been minted since the 1980s and are effectively obsolete.

The kip is used for all domestic transactions, with banknotes ranging from 1,000 to 100,000 kip. Because the currency is not widely traded internationally, its value is often quoted against the US dollar. A quirky note: the Lao word “kip” also means “mountain,” and the banknotes showcase national landmarks such as Pha That Luang and the Mekong River.