Convert Gibraltar Pound to Laotian Kip
Please provide values below to convert Gibraltar Pound [GIP] to Laotian Kip [LAK], or Convert Laotian Kip to Gibraltar Pound.
How to Convert Gibraltar Pound to Laotian Kip
1 GIP = 3.42264661005924e-05 LAK
Example: convert 15 GIP to LAK:
15 GIP = 15 × 3.42264661005924e-05 LAK = 0.000513396991508887 LAK
Gibraltar Pound to Laotian Kip Conversion Table
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Gibraltar Pound
The Gibraltar Pound (GIP) is the official currency of Gibraltar, pegged at par to the British Pound Sterling and used alongside it locally.
History/Origin
Introduced in 1934, the Gibraltar Pound replaced the Gibraltar Pound issued during the British colonial period. It has maintained a fixed exchange rate with the British Pound since its inception, with coins and banknotes issued specifically for Gibraltar.
Current Use
The Gibraltar Pound is widely used in Gibraltar for everyday transactions, alongside the British Pound Sterling. It is accepted locally and is also used in some border areas of Spain, with coins and banknotes issued by the Government of Gibraltar.
Laotian Kip
The Laotian Kip (LAK) is the official currency of Laos, used for everyday transactions and monetary exchanges within the country.
History/Origin
The Laotian Kip was introduced in 1952, replacing the French Indochinese piastre, and has undergone various redenominations and reforms to stabilize the economy and control inflation.
Current Use
Today, the Kip remains the primary currency in Laos, used in all financial transactions, with coins and banknotes issued by the Bank of the Lao P.D.R. and widely accepted throughout the country.