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
Korean currency when it became a floating currency, but was then immediately devalued at nearly half of its value because of the East Asian financial crisis. Korean currency Korean currency dates back as far as the Goryeo dynasty (918–1392) when the first iron coins were minted. During that period, even though some imported Chinese currency was also in circulation, commodity currency such as grain and linen continued in general circulation. It was not until the beginning of the Joseon period that copper coins were minted for wide circulation. Jeohwa (저화/楮貨), which was made of standardized mulberry-bark paper early in the Joseon period,