Lao kip

The kip (Lao: ກີບ; code: LAK; sign: ₭ or ₭N; Official Name: ເງີນກີບລາວ, lit. "Currency Lao Kip") is the currency of Laos since 1952. One kip is divided into 100 att (ອັດ), however, due to their low value, coins in general are very hard to come by in circulation.

Lao Kip exchange rate

History

Free Lao Kip (1946)

In 1945–1946, the Free Lao government in Vientiane issued a series of paper money in denominations of 10, 20 and 50 att and 10 kip before the French authorities took control of the region.

Royal kip (1952)

The kip was reintroduced in 1952, replacing the French Indochinese piastre at par. The kip (also called a piastre in French) was sub-divided into 100 att (Lao: ອັດ) or cents (French: Centimes).

Coins

Coins were issued in denominations of 10, 20 and 50 att or cents with French and Lao inscriptions. All were struck in aluminium and had a hole in the centre, like the Chinese cash coins. The only year of issue was 1952.

Banknotes

In 1953, the Laos branch of the Institut d'Emission des Etats du Cambodge, du Laos et du Vietnam issued notes dual denominated in piastre and kip. At the same time, the two other branches had similar arrangement with the riel in Cambodia and the đồng in South Vietnam. There were notes for 1, 5, 100 and 100 kip/piastres.

Currency

A currency (from Middle English: curraunt, "in circulation", from Latin: currens, -entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, British pounds, U.S. dollars, and European euros are examples of currency. These various currencies are recognized stores of value, and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.

Other definitions of the term "currency" are discussed in their respective synonymous articles banknote, coin, and money. The latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government's physical metal reserves). Some currencies are legal tender in certain political jurisdictions, which means they cannot be refused as payment for debt. Others are simply traded for their economic value. Digital currency has arisen with the popularity of computers and the Internet.

Currency (disambiguation)

Currency in economics may refer to:

Currency may also refer to:

See also

Fictional universe of Harry Potter

The fictional universe of J. K. Rowling's Harry Potter series of fantasy novels comprises two distinct societies: the wizarding world and the Muggle world. The Muggle World is the series' name for the world inhabited by the non-magical majority, with which the wizarding world exists coextensively, albeit mostly remaining hidden from the non-magical humans. The plot of the series is set in 1990s Britain, but in a veiled and separate shadow society wherein magic is commonly used and practiced, and those who can use it live in self-enforced seclusion, hiding their abilities from the rest of the world. The term "wizarding world" refers to the global wizard community that lives hidden in parallel with the Muggle world; the different terms refer to different communities within the same area rather than separate planets or worlds.

Fundamentals

The entire Harry Potter series is set from 1991 to 1998 aside from the opening chapter of the first book, which takes place on 1 November 1981, and the epilogue of the seventh book, which takes place on 1 September 2017. The depiction of the wizarding world is centred on magic, which not only imbues objects such as wands, but is portrayed as an inborn ability. It is also centred on the separation of the wizarding world from the non-wizarding, or Muggle world. Despite being an inherent talent, magic is honed through study and training into a skill.

Kip

Kip may refer to:

Places

In athletics

As a name or nickname

KIP

Other uses

See also

Kip (surname)

Kip is a surname. Notable people with the surname include:

Kip (artistic gymnastics)

In artistic gymnastics, a kip is a basic skill on the women's uneven bars. It is also performed on the men's high bar, parallel bars and still rings.

The kip is an important skill that is used as both a mount and an element or connecting skill in a bar routine. The kip allows the gymnast to swing below the bar to arrive in a front support on the bar. From the front support, the gymnast may then perform any number of skills. The glide kip is the most commonly used mount on the women's uneven bars.

The kip has been used since the early days of modern gymnastics. Currently, in the USA, the kip first appears in the women's USAG Level 5. Previously, USAG Level 4 also included a glide kip. According to a recent (October '09) survey sent out to USAG Professional Members, the glide kip may again be introduced in the level 4 routine starting in 2013.

Variations

Variations of the kip include the long hang kip, glide kip, drop kip, kip with stoop through and kip with jump turn.