Lao kip
The kip (; code: LAK; sign: ₭ or ₭N; ; officially: ເງີນກີບລາວ, lit. "currency Lao kip") is the currency of Laos since 1955. Historically, one kip was divided into 100 "att" (). The term derives from ກີບ "kì:p", a Lao word meaning "ingot." History. French Indochina. The piastre was the currency of French Indochina between 1885 and 1952. Free Lao Kip (1946). In 1945–1946, the Free Lao government in Vientiane issued a series of paper money in denominations of 10, 20 and 50 att and 100 kip before the French authorities took control of the region. Royal Kip (1955 ). The kip was reintroduced in 1955, replacing the French Indochinese piastre at par. The kip (also called a "piastre" in French) was sub-divided into 100 att (Lao: ອັດ) or "cents" (French: Centimes). Pathet Lao Kip (1976). The Pathet Lao kip was introduced sometime before 1976 in the areas which were under the control of the Pathet Lao. Banknote denominations of 1, 10, 20, 50, 100, 200 and 500 kip were issued. The notes were printed in China. In 1976, the Pathet Lao kip replaced the Royal kip throughout Laos following the Pathet Lao's take over of the country . The exchange rate between the two kip was 1 Pathet Lao kip = 20 royal kip. Lao PDR Kip (1979). On 16 December 1979, the former Pathet Lao “Liberation” kip was replaced by the new Lao kip at a rate of 100 to 1. Coins. Royal Kip (1955) Coins were issued in denominations of 10, 20 and 50 att or cents with French and Lao inscriptions. All were struck in aluminum and had a hole in the centre, like the Chinese cash coins. The only year of issue was 1952. Pathet Lao Kip (1976) Coins. Coins were again issued in  Laos for the first time in 28 years in 1980 with denominations of 10, 20 and 50 att, with each being struck in aluminum and depicting the state emblem on the obverse and agricultural themes on the reverse. These were followed by commemorative 1, 5, 10, 20 and 50 kip coins issued in 1985 for the 10th anniversary of the establishment of the Lao People's Democratic Republic. However, due to the economic toll of the Soviet collapse in 1991 and the persistence of chronic inflation, coins are rarely seen in circulation. Banknotes. In 1953, the Laos branch of the  Institut d'Emission des États du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and kip. At the same time, the two other branches had similar arrangements with the riel in Cambodia and the đồng in South Vietnam. There were notes for 1, 5, 100 and 100 kip/piastres. In 1957, the government issued notes denominated solely in kip. The notes were for 1, 5, 10, 20 and 50 kip printed by the Security Banknote Company, 100 kip printed by the Banque de France and a commemorative 500 kip printed by De La Rue. 1 and 5  kip notes printed by Bradbury & Wilkinson, as well as 10 kip notes by De La Rue were introduced in 1962. In 1963, 20, 50, 200 and 1000 kip notes were added, all printed by De La Rue. These were followed by 100, 500 and 5000 kip notes in 1974–75, again by De La Rue. 10 kip notes by Bradbury & Wilkinson and 1000 kip notes by De La Rue were printed but not circulated. Pathet Lao Kip (1976). In 1979, banknotes were introduced in denominations of 1, 5, 10, 20, 50 and 100 kip. 500 kip notes were added in 1988 , followed by 1000 kip in 1992, 2000 and 5000 kip in 1997, 10,000 and 20,000 kip in 2002 and 50,000 kip on January 17, 2006 (although dated 2004). On November 15, 2010 a 100,000 kip banknote was issued to commemorate the 450th anniversary of the founding of the capital, Vientiane, and the 35th anniversary of the establishment of the Lao People's Democratic Republic. Kaysone Phomvihane is pictured on the obverse of the 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 kip banknotes. The Bank of Laos governor announced on January 25, 2012 that the Bank of Laos would issue 100,000  Kip banknotes as a regular issue on February 1, 2012 (but dated 2011) to encourage Lao people to use the national currency instead of U.S. dollars and Thai baht.