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 ()
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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 coins are not found (too small value). There are banknotes in 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. Prices nearly everywhere are rounded up to 1,000 Kip, and in a big way, making some goods and services in Laos are some more expensive than even in neighbouring countries.
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, often the prices are indicated in us dollars or Thai baht (see the money of Thailand) and the calculation can be made, especially in tourist areas. However, before buying a calculation to recalculate the value based on the current exchange rate, because the price in dollars or Thai baht is often less profitable than buying in local currency, even with the exchange.
What currency to take to Laos?
Officially in Laos is only one currency – Kip, but the payment for travel services in major tourist cities are taken and exchanged for the Thai baht and US dollars. At markets and in stores take typically only bale, price tags everywhere in piles.
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.
In border areas you can also convert Vietnamese Dong to Cambodian riels (currency of Cambodia) and Chinese yuan.
The rate for large bills (50 and 100 dollars) cheaper than the smaller ones. Wrinkled and old bills do not accept, or accept at a very reduced rate.
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. 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 for a poor rate. It is better to always have a bale. 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 and hotels.
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 on a 1000 as they are very similar in color; 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.
Important! The rate for small notes below. For example: 50 and 100 $ 600 8 -, 10-and 20 – 8400, 1-5 – 8200.
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. Immediately after crossing the border the rate is better, but still not as profitable as in the cities. And be careful when you exchange money at private money changers on the border, particularly the Vietnamese, there is often a hoax.
Plastic cards and travellers cheques in Laos
Plastic cards of international systems Visa, Mastercard, American Express are accepted in major hotels, restaurants, chain stores. 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.comas at the last booking usually requires payment in cash at the hotel. 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 may seem an expensive country, especially for tourists. Almost everyone here is at least half to two times more expensive than Thailand, Vietnam or Cambodia, but it is only at first glance. The problem is that with tourists everywhere trying to take 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. Still affected by the rounding value of all goods to 1000 bales in a big way. In the remote areas of the goods to which we are accustomed, are objectively more expensive due to the fact that they are difficult to deliver.
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 approximately 77.95 rubles, or 1.21 US dollars.
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.