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 bales 8, for example: 5 thousand Kip * 8 = 40 rubles.
The exchange rate (Lao Kip) as of today (19/10/2018)
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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. However, before purchasing it is better to recalculate the value based on the current rate, because the price in dollars or Thai baht is often less profitable than buying in local currency.
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 do not know, and not all exchange points can be exchanged for euros, and to pay them generally not profitable. 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. In the border cities in Vietnam you can pay the Vietnamese Dong.
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 sometimes in the mail.
Banks are usually open Monday through Friday from 8:00 to 17:00, exchange offices work any day of the week. Most reliable exchangers with good rates are at banks or work separately under their sign. Is: Banque Franco-Lao (BFL) and Banque Pour Le Commerce Exterieur Lao Public (BCEL). As usual, the exchange rate in private 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; also pay attention to the new bill of 50 000 Kip). 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. At airports the rate is low, so there is better change a small amount for my first stay.
When entering Laos by land from Vietnam, Thailand, China and Kamaji you will offer to change money before the border, and immediately after it. The course is offered unprofitable, so you should only change the minimum amount to have enough to pay fees at the border and transport to resorts.
Plastic cards and travellers cheques in Laos
Plastic cards of international systems Visa, Mastercard, American Express are accepted in major hotels, restaurants and shops. When booking hotels online you can easily pay by plastic card, but it is preferable to reserve them prepaid through the website Agoda.comand not Booking.comwhere Casse only booking not predpolagaet payment online. Also keep in mind that when paying by card in hotels or travel services take off additional fee of 3-5%.
As for withdrawals, ATMs in Laos is, but only in major and tourist cities. Basically, this apparatus local banks BCEL and BFL. Every year them becomes more. The maximum amount you can withdraw in most ATM is 1 million Kip, about US $ 120, rare to find snyatye to 2 million. For each withdrawal a fee will be charged 1-5 dollars in addition to the fee your Bank. 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 extra Commission about 2-5%.
Traveller's cheques are not common, they can be cashed only in major cities in banks.
Don't forget before you travel to alert your Bank (you can do it on the phone support number listed on the card itself) that will use the map in Laos, otherwise, after the first transaction on withdrawal or payment card will be blocked.
Prices in Laos
Compared with neighboring Southeast Asian countries, Laos is an expensive country, especially for tourists. Almost everyone here is at least half to two times more expensive than Thailand, Vietnam or Cambodia, with tourists trying to take even more. To pay more than local will have everywhere except in the few stores with the prices on the price tags and at the bus stations when buying tickets.
Here is a very expensive gasoline, keep this in mind when renting a motorbike or entry into the country in his from Vietnam. 1 liter is 10500 Kip (in 2018), which is about 1.22 US dollar.
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.