Lao kip 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. Lao kip The kip (; code: LAK; sign: ₭ or ₭N; ; officially: ເງີນກີບລາວ, lit. "currency Lao kip") is the currency of Laos since 1952. Historically, one kip
Association of Southeast Asian Nations member states for air passenger services have been removed, while from 1 January 2009, full liberalisation of air freight services in the region took effect. On 1 January 2011, full liberalisation on fifth freedom traffic rights between all capital cities took effect. This policy supersedes existing unilateral, bilateral, and multilateral air services agreements among member states which are inconsistent with its provisions. The concept of an Asian Currency Unit (ACU) started in the middle of the 1990s, prior to the 1997 Asian financial crisis. It is a proposed basket of Asian currencies, similar to the European Currency Unit, which was