Lao kip De La Rue. A 1975 10 kip by Bradbury & Wilkinson and a 1000 kip by De la Rue were printed but not circulated. 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
1997 Asian financial crisis banks and corporations... Why not operate with lower interest rates and a greater devaluation? This is a relevant tradeoff, but there can be no question that the degree of devaluation in the Asian countries is excessive, both from the viewpoint of the individual countries, and from the viewpoint of the international system. Looking first to the individual country, companies with substantial foreign currency debts, as so many companies in these countries have, stood to suffer far more from… currency (depreciation) than from a temporary rise in domestic interest rates…. Thus, on macroeconomics… monetary policy has to be kept tight to