Lao kip of the Soviet collapse in 1991 and the persistence of chronic inflation, there are no coins currently in circulation in Laos. 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
Kip Rono Kilometres Championship. Kip Rono George Kiprotich "Kip" Rono (born 4 January 1958) is a Kenyan former steeplechase runner. He won a gold medal in the event at the 1979 African Championships in Athletics (becoming the inaugural champion) and was the first African steeplechase winner at the 1979 IAAF World Cup. Rono ranked second fastest in the world in 1980 with a time of 8:12.0 minutes, but missed the 1980 Summer Olympics due to the boycott. He was a bronze medallist at both the Commonwealth Games and All-Africa Games in 1978, finishing behind Henry Rono. He represented his country at the