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The official currency of Laos is the Kip, or the Lao Kip, which is further subdivided into 100 Lao att.
Before the advent of the Kip, the French Indochinese Piastre was being abundantly used. Before their introduction by the French authorities in Laos, the government has issued the free Kip, which was replaced by the French currency. The Kip was re introduced in 1952, after which it circulated abundantly.
The Laos currency was reformed in 1979 and the new Kip was introduced, which was equivalent to 100 old Kips.
Coins were introduced, but soon went out of circulation because of the high rates of inflation. Currently an Euro is worth about 13,636 Kips and an US Dollar is equal to 10,500 Kips.
Bank notes are available in the denominations of 1, 5, 10, 50, 100, 500, 1000, 2000, 5000, 10000, 20000, and 50000 Kips, but the lower denomination notes are also used less and less due to inflation.
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