Convert United States Dollar to Laotian Kip
Please provide values below to convert United States Dollar [USD] to Laotian Kip [LAK], or Convert Laotian Kip to United States Dollar.
How to Convert United States Dollar to Laotian Kip
1 USD = 4.62332380124172e-05 LAK
Example: convert 15 USD to LAK:
15 USD = 15 × 4.62332380124172e-05 LAK = 0.000693498570186258 LAK
United States Dollar to Laotian Kip Conversion Table
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United States Dollar
The United States Dollar (USD) is the official currency of the United States of America, used as a standard unit of monetary value and exchange.
History/Origin
The USD was established in 1792 with the Coinage Act, replacing the Continental Congress's Continental Currency. It has since become one of the world's dominant reserve currencies, influenced by the economic growth of the U.S. and global financial markets.
Current Use
The USD is widely used domestically and internationally for trade, investment, and as a reserve currency. It is the most traded currency in the foreign exchange market and is used as the standard currency in many international transactions.
Laotian Kip
The Laotian Kip (LAK) is the official currency of Laos, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Laotian Kip was introduced in 1952, replacing the French Indochinese piastre, and has undergone various redenominations and reforms to stabilize the economy and control inflation.
Current Use
Today, the Kip remains the primary currency in Laos, used in all financial transactions, with coins and banknotes issued by the Bank of the Lao P.D.R. and widely accepted throughout the country.