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).
World currency unit it is not practicable to introduce it in one step for political reasons and so the preferred method of introduction is for countries to gradually move their currencies closer or in some cases to adopt another country's currency as a series of steps inching closer to the SEMU. Examples could include countries that have already adopted the US Dollar as their currency or Australia and New Zealand joining forces or Pacific Islands adopting a larger country's currency. Ideally, the SEMU would coincide with trade barriers being removed and international laws moving into alignment. Today, there are two distinct products which