LAOS

(LAK) Currency News >>

CURRENCY:

Lao Kip - LAK

DENOMINATIONS:

NOTE: LAK 50,000, 20,000, 10,000, 5,000, 2,000, 1,000, 500, 100, 50, 10, 5 and 1.

COIN: N/A

US DOLLAR ACCEPTED?

Yes

CREDIT/DEBIT CARDS AND ATMS:

Not recommended; only larger 'high class' hotels and restaurants will accept major credit cards.

CURRENCY EXCHANGE:

Both US dollars and the Thai Baht are widely accepted in larger towns, and are also the easiest currencies to exchange.

TRAVELLER'S CHEQUES:

Not recommended as there is low acceptance. If necessary these are best in US dollars or Thai Baht.

BANKING HOURS:

Mon-Fri 0830-1600.

CURRENCY RESTRICTIONS:

Import and export of local currency is prohibited.

COUNTRY OVERVIEW:

Laos is officially called the Lao People's Democratic Republic. It is located in Southeast Asia. It has been independent from France since 1949. After independence, there was a long civil war in Laos, which officially ended in 1975 and communism became the main power. The capital is Vientiane and the official language is Lao.

POPULATION:

Around 6 million.

ECONOMY:

Laos relies on Thailand, China and Vietnam for trade. The infrastructure of the country is underdeveloped. The main element of the economy is agriculture which is for subsistence.