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
Currency War of 2009–11 fast that it would lead to social unrest in China, bankruptcy for export dependent companies and "disaster for the world". In October, China posted a record surge in its foreign exchange reserves, which was seen as a "target around the neck of China’s exchange rate regime" in the effort to get the country to allow its currency to appreciate. In reaction, Geithner suggested China’s attempts at limiting gains were the reason for capital controls and currency-market interventions in other emerging economies. "What’s happening is, as China holds its currency down, their currencies are moving up and they’re having to work