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
Mace (unit) which is also a generic word for "money" in Mandarin Chinese. (The same Chinese character (kanji) was used for the Japanese "sen", the former unit equal to of a Japanese yen; the Korean "chŏn"(revised: jeon), the former unit equal to of a Korean won; and for the Vietnamese tiền, a currency used in late imperial Vietnam; although neither of these has ever been known as "mace" in English.) Mace (unit) A mace (; Hong Kong English usage: tsin; Southeast Asian English usage: chee) is a traditional Chinese measurement of weight in East Asia that was also used as a currency