Foreign exchange guide to Laos and the Laotian kip
What's in this Laos currency guide?
The official currency of Laos (country code: LA) is the Laotian kip, with symbol ₭ and currency code LAK.
The Lao Kip (LAK) is the official currency of Laos, a country located in Southeast Asia. Here are some things you might want to know about the Lao Kip:
As mentioned above, the Laotian kip is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (LAK) before departure and will need to buy it upon arrival in .
For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the LAK you will incur currency conversion or foreign transaction fees if you use a travel money card in .
However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.
Laos is a beautiful and culturally rich Southeast Asian country that has much to offer travelers and expats alike. From the bustling capital city of Vientiane to the tranquil Mekong River, there is something for everyone in Laos. Travelers can enjoy exploring the numerous temples and monasteries, or take part in outdoor activities such as hiking, biking, and kayaking. Expats will find a warm and welcoming community in Laos, as well as plenty of opportunities to experience the country's unique culture and way of life.
-See the temples in Luang Prabang
-Visit the Kuang Si Waterfalls
-Take a boat ride on the Mekong River
-Tour the ruins of Wat Phu
-Explore Vang Vieng
-Check out the capital city, Vientiane
1. Take advantage of the low-cost flights to Laos and book your tickets in advance.
2. Laos is a relatively safe country to travel to, but be sure to take the necessary precautions to avoid pickpockets and other potential danger.
3. Laos is a Buddhist country, so be respectful of the local culture and customs.
4. The best time to visit Laos is during the dry season, from October to April.
5. Be prepared for a lot of walking, as many of the attractions in Laos are not accessible by vehicle.
The domestic currency in Laos is the Laotian kip.
The three letter currency code for the Laotian kip is LAK — symbol is ₭.
It is the domestic currency in   Laos.
Yes the Laotian kip is a closed currency. Which means that you may find it difficult to purchase the currency (LAK) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.
For more information and a full list of closed currencies please refer to our guide: What is a closed currency?
|$ 1||₭ 20,094|
|$ 5||₭ 100,471|
|$ 10||₭ 200,942|
|$ 20||₭ 401,884|
|$ 50||₭ 1,004,710|
|$ 100||₭ 2,009,420|
|$ 250||₭ 5,023,550|
|$ 500||₭ 10,047,100|
|$ 1,000||₭ 20,094,200|
|$ 2,000||₭ 40,188,400|
|$ 5,000||₭ 100,471,000|
|$ 10,000||₭ 200,942,000|
|$ 20,000||₭ 401,884,000|
|$ 50,000||₭ 1,004,710,000|
|$ 100,000||₭ 2,009,420,000|
|$ 0.0001||₭ 1|
|$ 0.0003||₭ 5|
|$ 0.0005||₭ 10|
|$ 0.0010||₭ 20|
|$ 0.0025||₭ 50|
|$ 0.0050||₭ 100|
|$ 0.0125||₭ 250|
|$ 0.0250||₭ 500|
|$ 0.0500||₭ 1,000|
|$ 0.1000||₭ 2,000|
|$ 0.2500||₭ 5,000|
|$ 0.5000||₭ 10,000|
|$ 1.0000||₭ 20,000|
|$ 2.5000||₭ 50,000|
|$ 5.0000||₭ 100,000|
To get a good (and fair) exchange rate when sending money to Laos you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Laos it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Laotian kip deposited into the recipient bank account and less margins and fees kept by the banks!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Laos.
The cost of living in Laos can be quite low, depending on your lifestyle. A single person can live comfortably on less than $1,000 per month, while a family can live quite well on $2,000 or less. Of course, your costs will vary depending on your individual needs and preferences.
There is a small but active expat community in Laos. The cost of living is relatively low, and there are many opportunities to get involved in the local community. Expats report feeling safe and welcome in Laos.
Visitors to Laos should be aware of the following laws:
• It is illegal to import or export Lao kip.
• It is illegal to photograph military personnel or buildings.
• It is illegal to possess drugs.
Doing business in Laos can be difficult due to the country's lack of infrastructure and its bureaucratic procedures. According to the World Bank's Doing Business report, Laos ranks 158th out of 190 countries in the ease of doing business. Starting a business in Laos requires 12 procedures and takes an average of 44 days. Obtaining a construction permit can take up to 351 days. Getting electricityconnected to a property requires 11 procedures and takes an average of 314 days.
There is no definitive answer to this question as Laos is a country in transition and its economy is growing rapidly but still lags behind many other developed countries. However, overall, the economy in Laos is improving and the country is making progress in poverty reduction and economic development.
Here we list some key points for expats and businesses to consider when managing financial dealings in Laos:
Understand Laotian kip currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the LAK exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Laotian kip bank account: A local LAK bank account can make it easier for you to manage your finances and pay bills while you are in Laos. It may also be more convenient to use a local LAK bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Laos. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Laos. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Laos, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.