Money Laos, currency
The exchange rate of the currency of Laos
To quickly count the value of Lao Kip to RUB, you need to multiply the cost in thousands of Kip to 7, for example: 5 thousand Kip * 7 = 35 rubles.
The exchange rate (Lao Kip) on 23/12/2017
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The Currency Of Laos
The currency of Laos is Kip, denoted as LAK. Theoretically LAK is divided into 100 atam, but in practice, such coins do not meet (too small value). There are banknotes in 1, 5, 10, 20, 50, 100, 500, 1 000, 2 000, 5 000, 10 000, 20 000 and 50,000 Kip in turnover mainly engaged banknotes , 500, 1 000, 2 000, 5 000.
Is the currency of Laos sign "K" (see image).
Officially in Laos in the course of only their own national currency and all rates and calculations should be made in it. However, in practice it often happens that the prices on the price tags are indicated in us dollars or Thai baht (see the money of Thailand) and the calculation is made by them, especially in the tourist areas. We can say that the dollar is the second currency of the country, but not in all areas, but only in tourist areas and cities.
What currency to take to Laos?
Officially in Laos is only one currency – Kip. But the payment is freely accepted and exchanged for the Thai baht and US dollars. The European currency is almost, you know, not all exchange offices you can exchange euros and to pay in EUR in General is not beneficial. Therefore, the best option to take to Laos is the United States dollar or Thai baht. Them you can freely settle, and to exchange for local currency.
If you are entering the territory of Thailand, and you are left in the hands of the baht, not necessarily to change them into dollars, and it is better to leave as is and them to settle in Laos.
The rate for large bills (50 and 100 dollars) cheaper than the smaller ones.
Is it worth to change money in Laos?
Kip is non-convertible and not a very strong currency. If you exchange a large sum, you will not be able to exchange it anywhere outside of Laos at the normal rate (and in Laos will not be able). It is best to change money in small portions for small expenses, and for purchases, pay for hotels and excursions, it is better to leave dollars.
At the same time, be aware that small expenses and purchases in dollars are unfavorable (especially if you have large bills in dollars), as the sellers will recalculate the amount and give change at an unfavourable rate. Better still to have always with you, though small, but the amount of bales. The same in remote and non-touristic places where you will not find any banks nor exchange points, and the rate in the calculation of the dollars is generally not known what.
Where to change money in Laos?
The currency in Laos is changing at banks, exchange offices, hotels and post offices.
Banks are usually open Monday through Friday from 8:00 to 17:00, exchange offices work any day of the week. As usual, the exchange rate in exchange offices is somewhat higher, but there is a chance to be deceived (most often a substitute for 10 000 bill for 1000 because they are very similar). The hotels can also offer a good course, but it is better to know the current exchange rate at banks for the benchmark bargaining, or you can offer undervalued.
If in a remote locality you are unable to find a Bank or exchange office, try to find a post office, currency exchange.
Plastic cards and travellers cheques in Laos
Plastic cards of international systems Visa, Mastercard, American Express are accepted only in major hotels, restaurants and stores. ATMs there, but only in major and tourist cities. If you urgently need money, the ATM can not be found, then you can try to withdraw money from a plastic card through the Bank, but will have to pay a Commission of 2-5%.
Traveller's cheques are not common, they can be cashed only in major cities in banks.
In Laos, tipping is not too common (affects socialist past rather the present and maybe the future), and nobody will be waiting. But if you leave the staff a small reward, one will not be against.