Convert Cuban Peso to Laotian Kip
Please provide values below to convert Cuban Peso [CUP] to Laotian Kip [LAK], or Convert Laotian Kip to Cuban Peso.
How to Convert Cuban Peso to Laotian Kip
1 CUP = 0.00110959771229801 LAK
Example: convert 15 CUP to LAK:
15 CUP = 15 × 0.00110959771229801 LAK = 0.0166439656844702 LAK
Cuban Peso to Laotian Kip Conversion Table
| Cuban Peso | Laotian Kip |
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Cuban Peso
The Cuban Peso (CUP) is the official currency of Cuba, used for everyday transactions within the country.
History/Origin
The Cuban Peso has been the official currency of Cuba since 1960, replacing the Cuban peso convertible (CUC) as the primary currency after the monetary reforms. It has undergone various changes in value and design over the years, reflecting Cuba's economic policies and relations.
Current Use
Today, the Cuban Peso is used mainly for domestic transactions, while the CUC is used for tourism and foreign trade. The CUP remains an essential part of Cuba's monetary system, with recent reforms aiming to unify the currency system.
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.