What is ‘LAK’
The currency abbreviation or currency symbol for the Lao kip (LAK), the currency of Laos. The kip is made up of 100 att, and is often presented with the symbol (__). The first kip coins minted in 1952 had holes in the center like chinese coins.
Explaining ‘LAK’
The kip was first seen in 1952. It replaced the French indochinese currency piastre on a 1-to-1 basis, but the new currency was also denominated in either kip and piastre or kip and riel or dong. Sole kip notes appeared in 1957, but this was replaced by Pathet Lao kip and the Lao PDR kips in 1976 and 1979, respectively.
Further Reading
- Can economic policy uncertainty predict exchange rate and its volatility? Evidence from ASEAN countries – bmeb-bi.org [PDF]
- Trade liberalization, economic reform and poverty reduction in Lao PDR – www.tandfonline.com [PDF]
- Economic Evaluation of Small-Scale Irrigation Ponds in Rural Southern Areas of Lao PDR – www.jstage.jst.go.jp [PDF]
- Analysis of the Status Quo and Development Trend of Financial Reform in Laos – www.atlantis-press.com [PDF]
- Human capital, innovation and entrepreneurship in micro and small businesses in Laos – link.springer.com [PDF]
- Financial returns from collaborative investment models of Eucalyptus agroforestry plantations in Lao PDR – www.sciencedirect.com [PDF]
- Hydropower resettlement and livelihood adaptation: The Nam Mang 3 project in Laos – www.sciencedirect.com [PDF]
- Empirical comparison of extreme value theory vis-à-vis other methods of VaR estimation using ASEAN+ 3 exchange rates – papers.ssrn.com [PDF]
