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
Kip (unit) Kip (unit) A kip is a US customary unit of force. It equals 1000 pounds-force, used primarily by American architects and engineers to measure engineering loads. Although uncommon, it is occasionally also considered a unit of weight, equal to 1000 pounds, i.e., one half of a short ton. One use is as a unit of deadweight to compute shipping charges. The name comes from combining the words "kilo" and "pound"; it is occasionally called a "kilopound". Its symbol is kip, or less frequently, klb. When it is necessary to clearly distinguish it as a unit of force rather than mass,