LAK (₭)

Currency: Lao kip

The Lao kip is the official currency of Laos. One US dollar is worth around 9,200.00 LAK. The Lao kip is the currency of Laos. It was first issued in 1952, replacing the French Indochinese piastre. One kip is divided into 100 att. The kip is issued by the Bank of the Lao P.D.R. The kip has been subject to high inflation, so banknotes are issued in denominations as high as 100,000 kip. Most transactions in Laos are conducted in cash, and the kip is the only currency accepted for most transactions.