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
Kelly Kip had knee problems and was not "the soundest of horses". At Laurel Park Racecourse in July, Kelly Kip was a last minute entry for the De Francis Memorial Dash, the second most valuable sprint of the season. He won from Affirmed Success in a time of 1:08.2, beating the race record set in 1991 by Housebuster. The trainer of the runner up described the winner as "probably the best sprinter in the country right now". In August Kelly Kip was sent to Saratoga to contest the Grade II A Phenomenon Handicap, a race which later became the Grade I Alfred