File:1000_Laotian_kip_in_2003_Obverse.jpg · Wikimedia Commons · See Wikimedia Commons
The Lao kip is the official money used in Laos, the Southeast Asian country, and has been the country's currency since 1952. It matters because it's what people in Laos use for buying and selling goods, paying for services, and conducting all everyday financial transactions.
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Encyclopedic overview
The kip (Lao: ກີບ, romanized: kib; code: LAK; sign: ₭ or ₭N; French: kip; officially: ເງີນກີບລາວ, lit. "currency Lao kip") is the currency of Laos since 1953. Historically, one kip was divided into 100 att (ອັດ) which are no longer in regular use. The term derives from ກີບ kì:p, a Lao word meaning "ingot."
History
Excerpted from Wikipedia’s “Lao kip” article, available under the CC BY-SA 4.0 licence.