Bank of the Lao P.D.R. explained

Bank Name:Bank of the Lao P.D.R.
Bank Name In Local:ທະນາຄານ ແຫ່ງ ສ. ປ. ປ. ລາວ
Ownership:100% state ownership[1]
Headquarters:Vientiane, Laos
Coordinates:17.9658°N 102.607°W
Leader Title:Governor
President:Xonexay Sithphaxay
Reserves:~US$ 1.0 billion
Bank Of:Laos
Currency:Lao kip
Currency Iso:LAK

The Bank of the Lao P.D.R. (Lao: ທະນາຄານ ແຫ່ງ ສ. ປ. ປ. ລາວ) is the central bank of Laos. It is also the bank of last resort, controlling the money supply, managing the country's reserves, and supervising the commercial banks operating in Laos.

The bank is managed by an executive board, a governor and a deputy governor. The current governor is Xonexay Sithphaxay.

The Bank of Laos was formed on [2] and has been operating since in the country's capital, Vientiane. It succeeded the National Bank of Laos, which itself had taken over in early 1955 from the French-controlled Institut d'Émission des États du Cambodge, du Laos et du Viet-nam.

Governors

managing director of the National Bank (1975–1983)
Chairman of the State Bank (1983–1990)
Governor of the State Bank (1990–present)

Source:[4]

Lao PDR Kip (1979)

On 16 December 1979, the old Pathet Lao “Liberation” kip was replaced by the new Lao kip at a rate of 100 to 1.[5]

Coins

Coins were again issued in Laos for the first time in 28 years in 1980 with denominations of 10, 20 and 50 att, with each being struck in aluminum and depicting the state emblem on the obverse and agricultural themes on the reverse. These were followed by commemorative 1, 5, 10, 20 and 50 kip in 1985 for the 10 year anniversary of the Lao People's Democratic Republic. However, due to the economic toll of the Soviet collapse in 1991 and the persistence of chronic inflation, there are no coins currently in circulation in Laos.

Banknotes

In 1979, banknotes were introduced in denominations of 1, 5, 10, 20, 50 and 100 kip. 500 kip notes were added in 1988, followed by 1000 kip in 1992, 2000 and 5000 kip in 1997, 10,000 and 20,000 kip in 2002 and 50,000 kip on January 17, 2006 (although dated 2004). On November 15, 2010, a 100,000 kip banknote was issued to commemorate the 450th anniversary of the founding of the capital, Vientiane and the 35th anniversary of the establishment of the Lao People's Democratic Republic.[6] [7] [8] Kaysone Phomvihane is pictured on the obverse of the 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 kip banknotes.

The Bank of Laos governor announced on January 25, 2012, that the Bank of Laos would issue 100,000 Kip banknotes as a regular issue on February 1, 2012 (but dated 2011) to encourage Lao people to use the national currency instead of U.S. dollars and Thai baht.[9] [10] [11]

Current Series
Image Value Description Date of issue Series Designation
Obverse Reverse Obverse Reverse
https://web.archive.org/web/20170414081608/https://www.banknoteworld.com/banknote/laos/1%20Kip/30292https://web.archive.org/web/20170414081608/https://www.banknoteworld.com/banknote/laos/1%20Kip/30292₭1Militia unit at left, arms at upper right.Schoolroom scene at left.1988P-25a
https://www.banknoteworld.com/banknote/laos/5%20Kip/8358https://www.banknoteworld.com/banknote/laos/5%20Kip/8358₭5ShoppingElephant Logging 1979P-26a
https://web.archive.org/web/20170414081925/https://www.banknoteworld.com/banknote/laos/10%20Kip/30293https://web.archive.org/web/20170414081925/https://www.banknoteworld.com/banknote/laos/10%20Kip/30293₭10Dark brown on multicolor underprint. Lumber mill at left, arms at upper right.Medical scenes at left. 1988P-27a
https://web.archive.org/web/20170414081445/https://www.banknoteworld.com/banknote/laos/20%20Kip/30294https://web.archive.org/web/20170414081445/https://www.banknoteworld.com/banknote/laos/20%20Kip/30294₭20Arms at left, tank with troop column at center.Brown and maroon. Textile mill at center.1988P-28a
https://www.banknoteworld.com/banknote/laos/50%20Kip/8366https://www.banknoteworld.com/banknote/laos/50%20Kip/8366₭50Rice PlantingHydroelectric Dam1979P-29a
https://www.banknoteworld.com/banknote/laos/100%20Kip/8369https://www.banknoteworld.com/banknote/laos/100%20Kip/8369₭100HarvestingBridge 1979P-30a
https://www.banknoteworld.com/banknote/laos/500%20Kip/8370https://www.banknoteworld.com/banknote/laos/500%20Kip/8370₭500Modern IrrigationFruit Harvesting1988P-31a
https://www.banknoteworld.com/banknote/laos/1,000%20(1000)%20Kip/25020https://www.banknoteworld.com/banknote/laos/1,000%20(1000)%20Kip/25020₭1,000Lao Loum, Lao Sung and Lao Theung WomenCattle Herd2008P-39
https://www.banknoteworld.com/banknote/laos/2,000%20(2000)%20Kip/25112https://www.banknoteworld.com/banknote/laos/2,000%20(2000)%20Kip/25112₭2,000President Kaysone Phomevihane, Wat Xieng Thong in Luang Prabang, LaosHydroelectric Complex in Xeset, Laos2011P-41
https://www.banknoteworld.com/banknote/laos/5,000%20(5000)%20Kip/27612https://www.banknoteworld.com/banknote/laos/5,000%20(5000)%20Kip/27612₭5,000President Kaysone Phomevihane
Pha That Luang
Cement Factory in Vang Vieng2003P-34b
https://www.banknoteworld.com/banknote/laos/10,000%20(10000)%20Kip/27613https://www.banknoteworld.com/banknote/laos/10,000%20(10000)%20Kip/27613₭10,000President Kaysone Phomevihane
Pha That Luang
Mekong River Bridge2003P-35b
https://www.banknoteworld.com/banknote/laos/20,000%20(20000)%20Kip/27614https://www.banknoteworld.com/banknote/laos/20,000%20(20000)%20Kip/27614₭20,000President Kaysone Phomevihane
Haw Pra Keaw (Ho Phra Keo)
Small River Dam2003P-36B
https://www.banknoteworld.com/banknote/laos/50,000%20(50000)%20Kip/8385https://www.banknoteworld.com/banknote/laos/50,000%20(50000)%20Kip/8385₭50,000President Kaysone Phomevihane
Pha That Luang
Presidential Palace2004P-37
https://www.banknoteworld.com/banknote/laos/100,000%20(100000)%20Kip/25113https://www.banknoteworld.com/banknote/laos/100,000%20(100000)%20Kip/25113₭100,000President Kaysone Phomevihane, Pha That Luang in Vientiane, LaosPresident Kaysone Phomevihane Statue and Museum http://www.tourismlaos.org/show_province.php?Cont_ID=775, Vientiane, Laos2011P-42
https://www.banknoteworld.com/banknote/laos/100,000%20(100000)%20Kip/25019https://www.banknoteworld.com/banknote/laos/100,000%20(100000)%20Kip/25019₭100,000King Sethathirath statue, Pha That Luang in Vientiane, Dork Champa Flower and Naga Dragon.Ho Phra Keo Temple in Vientiane, Laos2010P-40

See also

Notes and References

  1. Web site: Weidner . Jan . The Organisation and Structure of Central Banks . Katalog der Deutschen Nationalbibliothek. 2017. PDF.
  2. Web site: History of the Bank . 2014-05-11 . https://web.archive.org/web/20100714132738/http://www.bol.gov.la/english/ehistory4.html . 2010-07-14 . dead .
  3. Web site:

    KPL :: Lao News Agency

    . kpl.gov.la.
  4. Web site: January 16, 2017 . File Upload . www.bol.gov.la.
  5. Book: Linzmayer . Owen . The Banknote Book . Laos . www.BanknoteNews.com . 2012 . San Francisco, CA .
  6. Web site: BanknoteNews – Breaking news about international paper & polymer money.. 28 June 2023. 6 May 2020. 26 February 2021. https://web.archive.org/web/20210226092446/https://banknotenews.com/files/tag-laos.php/. dead.
  7. http://banknotenews.com/files/ad20ba6af5af0ac0d06f2b58a5a2398f-1332.php Laos new 100,000-kip commemorative confirmed
  8. Web site: ທະນາຄານແຫ່ງ ສປປ ລາວ. 2020-06-26. https://web.archive.org/web/20160303180539/http://www.bol.gov.la/together_use/kip%26coin.pdf. 2016-03-03. dead.
  9. Web site: Nation Thailand news website, thai news, thailand news, Bangkok thailand, aec, breaking news : Nation Thailand .
  10. Web site: ທະນາຄານແຫ່ງ ສປປ ລາວ. 2017-04-16. https://web.archive.org/web/20150501221903/http://www.bol.gov.la/laoweb/Money100.pdf. 2015-05-01. dead.
  11. http://banknotenews.com/files/5aa391c2817b9991d263574b4ab02524-1952.php Laos new 100,000 kip note confirmed

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