Bank Exchange Rates for Laos - LAK - Laos Kip - ₭
The foreign exchange rates for Laos also known as the ISO code LAK or the Laos Kip currency and as a symbol ₭.
Banknotes are used frequently, and are available in denominations of 500, 1000, 2000, 5000, 10,000, 20,000, 50,000 and 100,000 kip. 1, 5, 10, 20, 50 and 100 Kip banknotes are not often used, due to their low value and lack of buying power.
Coins in circulation are in denominations of 10, 20 and 50 Att – an Att being 1/100th of a Kip.
Introduced in 1952, the Laos kip currency currently features few coins – the ones that do exist are very rarely found in circulation, due to their low value. The first and only coins were issued, struck in aluminum, featuring holes in the center, in 1953.