Lao kip 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 was divided into 100 "att" (). In 1945–1946, the Free Lao government in Vientiane issued a series of paper money in denominations of 10, 20 and 50 att and 10 kip before the French authorities took control of the region. The kip was reintroduced in 1952, replacing the French Indochinese piastre at par. The kip (also called a "piastre" in French) was sub-divided into 100 att (Lao: ອັດ) or "cents" (French: Centimes).
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