Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Laos with 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 BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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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:
For more LAK information check out our selection of Laotian kip news and guides.
The domestic currency in Laos is the Laotian kip.
The three letter currency code for the Laotian kip is LAK — symbol is ₭.
Here is an example Laotian kip banknote:
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?
Here are some popular conversion amounts for USD to LAK (US dollar to Laotian kip)*.
*Converted at the current USDLAK interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
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 Laos.
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 Laos.
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.
Traveling to Laos requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
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.
How much does it really cost to live, work, or travel in Laos? Here's what to expect for daily expenses and expat living.
For travelers planning a week-long mid-range stay in Laos, budgeting around $500 to $700 (approximately 8,500,000 to 12,000,000 LAK) is a reasonable estimate. This amount will cover comfortable accommodations, meals, transportation, and leisure activities without stretching your finances too thin. Here’s a quick rundown of some typical daily expenses in Laos:
In general, Laos is considered an inexpensive destination, especially when compared to the United States, where similar mid-range costs could be double or even triple those in Laos. For instance, a meal at a local diner in the US could set you back around $15-$20 (over 150,000 LAK). Likewise, if we contrast charges with Australia, where daily expenses typically hover around AUD 100 (approximately 220,000 LAK), it's clear that Laos offers excellent value for money for those looking to stretch their dollars.
For expatriates settling in Laos, the monthly living costs can vary based on lifestyle choices but generally range between 8,000,000 and 15,000,000 LAK (about $500 to $900). This budget would typically cover rent, utilities, groceries, and local leisure activities. When it comes to banking, most expats find it convenient to use local banks that offer services in English, although card payment acceptance is increasing—particularly in urban areas. It’s advisable to carry cash for smaller transactions, especially in rural settings.
When deciding on exchanging money, using local exchange services might not always give the best rates, so consider employing online transfer services like Wise or OFX. These often facilitate better conversion rates and lower fees compared to traditional banks, making services like these particularly beneficial for expatriates who might need to send or receive money internationally. In summary, expatriates can enjoy a comfortable lifestyle in Laos by budgeting wisely and using innovative financial solutions.
The below interactive chart displays the USD/LAK change and UP📈 DOWN📉 trends over the past 1 Year.
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.
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 money transfer specialist 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.
We have put together some key points to help 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.