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LOCAL CURRENCY IN LAOS

Would you like to know name of the currency in Laos? The money used in Laos is called Kip.

The Laotian Kip is issued and managed by the Bank of the Lao P.D.R.. To find out the current currency exchange rates for Kip to other major currencies of the world, click on foreign currency rates.

Laotian Currency Information
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The currency used in Laos is called as the Kip. This currency is denoted with the currency sign ? or ?N and the ISO 4217 Code for the Laotian Kip is LAK. The Kip, is the official currency of the Laos . It is divided into 100 smaller units called att.

The constitution of Laos provides that the Laos government shall have the power to print the Laotian Kip and att coins to be used as a legal tender in Laos. The Laotian Kip bank notes and Att coins are both designated as "legal tender" in payment of debts.

The Laotian Kip bill uses the decimal system, consisting of 100 equal units.

The symbol ? or ?N, usually written before the numerical amount, is used for the Laotian Kip.

Currently printed bank notes denominations are 500, 1000, 2000, 5000, 10,000, 20,000, 50,000, 100,000 kip 1, 5, 10, 20, 50, 100 kip and the coins are minted in the denominations of 10, 20, 50 att.

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The Effect of Balance of Trade and Investment on the Value of Laotian Kip
Financial analysts regularly cite the balance of trade and investment in Laos as the most important influence on the value of the Kip. The difference between what the Laos exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Kip exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Kip exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Laotian Kip.
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