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Laos - 500 Kip - P-31a - 1988 dated Foreign Paper Money

Inv# FM1106   Foreign Paper Money Cat# P-31a
Laos - 500 Kip - P-31a - 1988 dated Foreign Paper Money
Country: Laos
Denomination: 500 Kip
Years: 1988

Foreign Paper Money. Modern irrigation systems and arms/Harvesting fruit. The kip (Lao: ???, romanizedkib; code: LAK; sign: ? or ?N; French: kip; officially: ??????????, lit. "currency Lao kip") is the currency of Laos since 1955. Historically, one kip was divided into 100 att (???). The term derives from ??? kì:p, a Lao word meaning "ingot." The piastre was the currency of French Indochina between 1885 and 1952.

In 1945–1946, the Free Lao government in Vientiane issued a series of paper money in denominations of 10, 20 and 50 att and 100 kip before the French authorities took control of the region. The kip was reintroduced in 1955, replacing the French Indochinese piastre at par. The kip (also called a piastre in French) was sub-divided into 100 att (Lao: ???) or cents (French: Centimes). It was pegged to the French franc at a rate of 10 francs per kip.

On 10 October 1958, the kip's peg switched to the US dollar, and was officially devalued from ?35 to ?80 per US dollar: however, the official exchange rate did not reflect market conditions at the time, with the parallel rate reaching ?600 per dollar by the end of 1963. Laos devalued the kip again on 1 January 1964, and adopted an official rate of ?240 per dollar and a "free market" rate of about ?505 per dollar: the free market rate then fell to ?600 per dollar on 8 November 1971, with the official rate being abolished on 4 April 1972. Read more at https://en.wikipedia.org/wiki/Lao_kip

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Condition: Crisp Uncirculated
Item ordered may not be exact piece shown. All original and authentic.
Price: $10.00