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).
Denomination (currency) the Ottoman Empire, lira and kuruş were super units at some point before becoming the main unit. A decimal currency is a currency where the ratio between the main unit and the subunit is an integral power of 10. Non-decimal currencies are now rare but had some advantages in daily life transactions. For example, 1 South German Gulden = 60 Kreuzer. 60 can be divided into 2, 3, 4, 5, 6, 10, 12, 15, 20 or 30 parts that are still integers, making pricing easy. This advantage (in an age without mechanical or electronic calculators) and the lack of widespread